Energy Recovery (NASDAQ:ERII) Hits New 52-Week Low at $13.92

Energy Recovery, Inc. (NASDAQ:ERII) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.92 and last traded at $14.00, with a volume of 141161 shares. The stock had previously closed at $14.37.

Analyst Upgrades and Downgrades

Separately, Evercore ISI reduced their price objective on 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 Stock Performance

The company has a market capitalization of $772.29 million, a P/E ratio of 37.03 and a beta of 1.27. The stock has a fifty day moving average of $15.24 and a 200 day moving average of $17.13.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. The business had revenue of $57.19 million during the quarter, compared to the consensus estimate of $63.57 million. During the same period last year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 35.2% on a year-over-year basis. Research analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Yu Lang Mao sold 38,025 shares of Energy Recovery stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 176,112 shares in the company, valued at approximately $2,854,775.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Energy Recovery news, Director Robert Yu Lang Mao sold 38,025 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the transaction, the director now directly owns 176,112 shares in the company, valued at $2,854,775.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the completion of the sale, the director now directly owns 807,055 shares in the company, valued at approximately $12,501,281.95. The disclosure for this sale can be found here. Insiders have sold 96,457 shares of company stock valued at $1,519,283 in the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in Energy Recovery by 79.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,264 shares of the industrial products company’s stock valued at $29,000 after buying an additional 558 shares during the period. Millburn Ridgefield Corp bought a new position in shares of Energy Recovery in the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC bought a new position in Energy Recovery during the third quarter worth $29,000. Clear Street Markets LLC bought a new stake in Energy Recovery in the 3rd quarter valued at $33,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Energy Recovery in the 1st quarter valued at $49,000. 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.