Energy Recovery (NASDAQ:ERII) Shares Up 5.7% – Still a Buy?

Energy Recovery, Inc. (NASDAQ:ERII)’s stock price rose 5.7% during trading on Thursday . The company traded as high as $16.03 and last traded at $15.52. Approximately 52,193 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 254,221 shares. The stock had previously closed at $14.68.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. B. Riley dropped their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 price target for the company. Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI cut their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Down 0.6 %

The business’s fifty day moving average is $14.76 and its 200 day moving average is $16.27. The stock has a market cap of $866.09 million, a PE ratio of 44.00 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. As a group, analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insider Activity

In related news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the sale, the director now directly owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ERII. KBC Group NV increased its position in Energy Recovery by 14.1% during the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after buying an additional 153,381 shares in the last quarter. Geode Capital Management LLC increased its position in Energy Recovery by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after purchasing an additional 56,306 shares in the last quarter. Barclays PLC increased its position in Energy Recovery by 376.6% during the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 76,393 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Energy Recovery in the 3rd quarter valued at about $15,237,000. Finally, Summit Global Investments purchased a new position in Energy Recovery in the 3rd quarter valued at about $939,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.