Energy Recovery (NASDAQ:ERII) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Separately, Evercore ISI reduced their price objective on shares of Energy Recovery from $26.00 to $24.00 and set an outperform rating for the company in a research note on Wednesday, February 28th.

Energy Recovery Trading Up 4.6 %

Energy Recovery stock opened at $13.64 on Friday. Energy Recovery has a 1-year low of $12.45 and a 1-year high of $30.76. The firm’s fifty day simple moving average is $14.83 and its 200-day simple moving average is $16.55. The company has a market capitalization of $781.98 million, a P/E ratio of 40.12 and a beta of 1.26.

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

Insider Buying and Selling at Energy Recovery

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

Institutional Trading of Energy Recovery

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in Energy Recovery by 376.4% in the third quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after purchasing an additional 3,090,086 shares during the period. Brown Capital Management LLC lifted its holdings in shares of Energy Recovery by 64.7% during the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock worth $82,085,000 after acquiring an additional 1,711,129 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Energy Recovery during the 4th quarter worth about $6,991,000. New York State Common Retirement Fund lifted its holdings in shares of Energy Recovery by 63.3% during the 3rd quarter. New York State Common Retirement Fund now owns 560,690 shares of the industrial products company’s stock worth $11,892,000 after acquiring an additional 217,343 shares during the period. Finally, KBC Group NV increased its stake in Energy Recovery by 17.2% in the fourth quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock valued at $20,458,000 after acquiring an additional 159,143 shares during the period. 83.58% of the stock is currently owned by 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.