Energy Recovery (NASDAQ:ERII) Shares Down 4.6% – Should You Sell?

Energy Recovery, Inc. (NASDAQ:ERII) fell 4.6% on Monday . The company traded as low as $17.63 and last traded at $17.89. 200,108 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 407,953 shares. The stock had previously closed at $18.75.

Analyst Ratings Changes

A number of equities analysts have commented on ERII shares. B. Riley reduced their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI cut their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.33.

Energy Recovery Stock Performance

The company’s 50-day moving average price is $17.78 and its 200-day moving average price is $15.70. The firm has a market capitalization of $897.30 million, a PE ratio of 45.74 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts anticipate that Energy Recovery, Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In related news, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This represents a 2.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the transaction, the senior vice president now directly owns 133,823 shares of the company’s stock, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,406 shares of company stock worth $828,688. 4.10% of the stock is owned by insiders.

Institutional Trading of Energy Recovery

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Energy Recovery by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 1,330 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Energy Recovery by 8.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 1,433 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Energy Recovery by 2.0% in the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 1,893 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Energy Recovery in the second quarter valued at approximately $26,000. Finally, AQR Capital Management LLC increased its position in Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

About Energy Recovery

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.