Energy Recovery (NASDAQ:ERII) Stock Rating Lowered by B. Riley

B. Riley downgraded shares of Energy Recovery (NASDAQ:ERII - Free Report) from a buy rating to a neutral rating in a report published on Thursday, MarketBeat Ratings reports. The brokerage currently has $12.50 price objective on the industrial products company's stock, down from their prior price objective of $20.00.

Separately, StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.88.

Energy Recovery Price Performance

Energy Recovery stock traded down $0.89 during trading hours on Thursday, hitting $11.36. The company had a trading volume of 985,084 shares, compared to its average volume of 410,648. The firm has a market capitalization of $622.03 million, a P/E ratio of 33.41 and a beta of 1.09. Energy Recovery has a fifty-two week low of $10.86 and a fifty-two week high of $20.27. The firm's fifty day moving average is $15.35 and its 200-day moving average is $15.64.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $8.07 million for the quarter, compared to analysts' expectations of $21.97 million. During the same period last year, the business earned ($0.08) earnings per share. The firm's revenue for the quarter was down 33.1% on a year-over-year basis. Analysts anticipate that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 21,444 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Energy Recovery by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock worth $55,534,000 after purchasing an additional 242,494 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in Energy Recovery in the first quarter valued at approximately $540,000. Raiffeisen Bank International AG grew its stake in shares of Energy Recovery by 4.3% during the first quarter. Raiffeisen Bank International AG now owns 245,000 shares of the industrial products company's stock worth $3,908,000 after purchasing an additional 10,000 shares during the period. XTX Topco Ltd acquired a new position in Energy Recovery during the first quarter valued at approximately $374,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Energy Recovery in the first quarter valued at about $379,000. Institutional investors and hedge funds own 83.58% of the company's stock.

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.