Energy Recovery (NASDAQ:ERII) Lowered to “Sell” at StockNews.com

Energy Recovery (NASDAQ:ERII) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Separately, Evercore ISI dropped their price target on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $13.64 on Friday. The company has a market cap of $781.98 million, a PE ratio of 40.12 and a beta of 1.26. The firm’s 50 day moving average price is $14.83 and its 200-day moving average price is $16.54. Energy Recovery has a 52-week low of $12.45 and a 52-week high of $30.76.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The business had revenue of $57.19 million for the quarter, compared to analysts’ expectations of $63.57 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, analysts forecast that Energy Recovery will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Robert Yu Lang Mao sold 38,025 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.21, for a total transaction of $616,385.25. Following the completion of the sale, the director now directly owns 176,112 shares in the company, valued at approximately $2,854,775.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robert Yu Lang Mao sold 38,025 shares of Energy Recovery stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the transaction, the director now owns 176,112 shares in the company, valued at approximately $2,854,775.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the sale, the director now owns 807,055 shares of the company’s stock, valued at $12,501,281.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,913 shares of company stock valued at $1,478,808. 4.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Nordea Investment Management AB boosted its position in shares of Energy Recovery by 0.4% in the third quarter. Nordea Investment Management AB now owns 158,099 shares of the industrial products company’s stock worth $3,290,000 after purchasing an additional 565 shares during the period. Commonwealth Equity Services LLC raised its holdings in Energy Recovery by 7.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,223 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 830 shares during the period. Victory Capital Management Inc. lifted its position in shares of Energy Recovery by 1.3% in the fourth quarter. Victory Capital Management Inc. now owns 81,902 shares of the industrial products company’s stock valued at $1,543,000 after acquiring an additional 1,083 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Energy Recovery by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,420 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 1,207 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Energy Recovery by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,328 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 1,302 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Company Profile

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.