Energy Recovery (NASDAQ:ERII) Hits New 1-Year Low at $12.33

Energy Recovery, Inc. (NASDAQ:ERII)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $12.33 and last traded at $12.50, with a volume of 13075 shares. The stock had previously closed at $12.53.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Evercore ISI dropped their target price on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Energy Recovery Stock Down 0.3 %

The stock has a market capitalization of $709.17 million, a P/E ratio of 36.38 and a beta of 1.25. The business has a fifty day moving average price of $13.59 and a 200-day moving average price of $15.43.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $12.09 million for the quarter, compared to the consensus estimate of $12.49 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. On average, equities analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other Energy Recovery news, CEO David W. Moon purchased 10,500 shares of the stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $13.46 per share, with a total value of $141,330.00. Following the completion of the acquisition, the chief executive officer now directly owns 29,750 shares in the company, valued at approximately $400,435. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Energy Recovery news, Director Robert Yu Lang Mao sold 21,045 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $13.86, for a total value of $291,683.70. Following the transaction, the director now owns 236,099 shares of the company’s stock, valued at $3,272,332.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Moon bought 10,500 shares of the stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $13.46 per share, for a total transaction of $141,330.00. Following the acquisition, the chief executive officer now owns 29,750 shares of the company’s stock, valued at approximately $400,435. The disclosure for this purchase can be found here. Insiders have sold a total of 80,096 shares of company stock valued at $1,084,084 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sentry Investment Management LLC bought a new position in Energy Recovery in the fourth quarter valued at about $117,000. ProShare Advisors LLC purchased a new stake in Energy Recovery in the first quarter worth about $158,000. Lazard Asset Management LLC increased its position in Energy Recovery by 39.6% in the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after buying an additional 3,076 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in Energy Recovery in the first quarter worth about $244,000. Finally, Martin Currie Ltd. purchased a new stake in Energy Recovery in the fourth quarter worth about $276,000. Institutional investors own 83.58% of the company’s stock.

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.