Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $12.33 and last traded at $12.50, with a volume of 13075 shares. The stock had previously closed at $12.53.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on ERII. Evercore ISI cut their price objective on Energy Recovery from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 28th. StockNews.com lowered Energy Recovery from a "hold" rating to a "sell" rating in a report on Friday, May 3rd.
View Our Latest Report on Energy Recovery
Energy Recovery Stock Down 1.0 %
The firm has a market cap of $711.47 million, a P/E ratio of 36.50 and a beta of 1.25. The business has a fifty day moving average of $13.63 and a 200 day moving average of $15.47.
Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $12.09 million during the quarter, compared to analysts' expectations of $12.49 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. On average, sell-side analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.
Insider Buying and Selling at Energy Recovery
In other news, CEO David W. Moon acquired 10,500 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $13.46 per share, with a total value of $141,330.00. Following the acquisition, the chief executive officer now directly owns 29,750 shares in the company, valued at approximately $400,435. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO David W. Moon bought 10,500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $13.46 per share, with a total value of $141,330.00. Following the transaction, the chief executive officer now directly owns 29,750 shares in the company, valued at $400,435. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arve Hanstveit sold 35,000 shares of Energy Recovery stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total value of $473,550.00. Following the completion of the transaction, the director now directly owns 772,055 shares of the company's stock, valued at $10,445,904.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,096 shares of company stock valued at $1,084,084. 4.10% of the stock is currently owned by corporate insiders.
Institutional Trading of Energy Recovery
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Energy Recovery by 8.2% during the 3rd quarter. Barclays PLC now owns 21,940 shares of the industrial products company's stock valued at $466,000 after purchasing an additional 1,671 shares during the last quarter. Swiss National Bank boosted its stake in Energy Recovery by 12.3% during the 3rd quarter. Swiss National Bank now owns 123,800 shares of the industrial products company's stock valued at $2,626,000 after purchasing an additional 13,600 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Energy Recovery by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company's stock valued at $9,198,000 after purchasing an additional 13,247 shares during the last quarter. Rhumbline Advisers boosted its stake in Energy Recovery by 9.2% during the 3rd quarter. Rhumbline Advisers now owns 93,751 shares of the industrial products company's stock valued at $1,988,000 after purchasing an additional 7,922 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Energy Recovery by 0.4% during the 3rd quarter. Nordea Investment Management AB now owns 158,099 shares of the industrial products company's stock valued at $3,290,000 after purchasing an additional 565 shares during the last quarter. 83.58% of the stock is owned by institutional investors.
Energy Recovery Company Profile
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Get Free Report)
Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.
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