Energy Recovery (NASDAQ:ERII) Trading Down 11.1%

Energy Recovery, Inc. (NASDAQ:ERII)’s share price traded down 11.1% during trading on Monday . The company traded as low as $9.84 and last traded at $9.92, 568,869 shares were traded during mid-day trading. An increase of 175% from the average session volume of 206,604 shares. The stock had previously closed at $11.16.

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Energy Recovery from a “strong-buy” rating to a “buy” rating in a report on Thursday. TheStreet upgraded shares of Energy Recovery from a “c+” rating to a “b” rating in a report on Friday, May 3rd. B. Riley set a $15.00 price objective on shares of Energy Recovery and gave the company a “buy” rating in a report on Monday, July 15th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a report on Friday, June 7th. Finally, BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.00.

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.55 and a current ratio of 4.85. The company has a market cap of $578.03 million, a PE ratio of 49.60 and a beta of 4.32. The firm’s fifty day moving average price is $10.73.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Thursday, August 1st. The industrial products company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $22.80 million for the quarter, compared to analyst estimates of $20.53 million. Energy Recovery had a return on equity of 11.72% and a net margin of 39.35%. Energy Recovery’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Analysts predict that Energy Recovery, Inc. will post 0.23 earnings per share for the current year.

In related news, VP Emily Smith sold 7,868 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $10.90, for a total value of $85,761.20. Following the sale, the vice president now owns 48,773 shares in the company, valued at $531,625.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Rodney Clemente sold 36,946 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $11.92, for a total value of $440,396.32. Following the completion of the sale, the vice president now owns 81,299 shares in the company, valued at approximately $969,084.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 305,994 shares of company stock worth $3,270,142. 22.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC raised its position in shares of Energy Recovery by 59.8% during the 2nd quarter. Manchester Capital Management LLC now owns 32,405 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 12,130 shares in the last quarter. Aperio Group LLC increased its position in Energy Recovery by 63.0% during the second quarter. Aperio Group LLC now owns 48,214 shares of the industrial products company’s stock worth $502,000 after buying an additional 18,640 shares during the period. KBC Group NV increased its position in Energy Recovery by 508.9% during the second quarter. KBC Group NV now owns 313,451 shares of the industrial products company’s stock worth $3,266,000 after buying an additional 261,971 shares during the period. First Trust Advisors LP increased its position in Energy Recovery by 5.1% during the second quarter. First Trust Advisors LP now owns 560,631 shares of the industrial products company’s stock worth $5,842,000 after buying an additional 27,162 shares during the period. Finally, Ibex Investors LLC acquired a new position in Energy Recovery during the second quarter worth approximately $233,000. Hedge funds and other institutional investors own 32.02% of the company’s stock.

About Energy Recovery (NASDAQ:ERII)

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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