Energy Recovery (NASDAQ:ERII) Hits New 1-Year Low at $13.92

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $13.92 and last traded at $14.00, with a volume of 141161 shares trading hands. 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 report on Wednesday, February 28th.

Energy Recovery Stock Down 2.7 %

The stock has a market capitalization of $797.98 million, a P/E ratio of 37.78 and a beta of 1.27. The firm has a 50-day moving average of $15.24 and a 200 day moving average of $17.13.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. The company had revenue of $57.19 million for the quarter, compared to analyst estimates of $63.57 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business's revenue was up 35.2% compared to the same quarter last year. Analysts predict that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total transaction of $774,500.00. Following the completion of the transaction, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Energy Recovery news, CEO David W. Moon bought 10,750 shares of the stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the completion of the purchase, the chief executive officer now owns 19,250 shares in the company, valued at approximately $298,567.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $12,501,281.95. The disclosure for this sale can be found here. Insiders sold 96,457 shares of company stock worth $1,519,283 over the last three months. 4.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Recovery

A number of hedge funds and other institutional investors have recently made changes to their positions in ERII. Advisor Group Holdings Inc. increased its stake in shares of Energy Recovery by 6.9% in the first quarter. Advisor Group Holdings Inc. now owns 8,731 shares of the industrial products company's stock valued at $176,000 after buying an additional 561 shares in the last quarter. JPMorgan Chase & Co. increased its position in Energy Recovery by 39.6% in the first quarter. JPMorgan Chase & Co. now owns 174,963 shares of the industrial products company's stock worth $3,523,000 after purchasing an additional 49,671 shares during the period. MetLife Investment Management LLC increased its position in Energy Recovery by 45.2% in the first quarter. MetLife Investment Management LLC now owns 22,475 shares of the industrial products company's stock worth $453,000 after purchasing an additional 6,996 shares during the period. Dimensional Fund Advisors LP increased its position in Energy Recovery by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 515,909 shares of the industrial products company's stock worth $10,391,000 after purchasing an additional 28,563 shares during the period. Finally, Vontobel Holding Ltd. increased its position in Energy Recovery by 42.4% in the first quarter. Vontobel Holding Ltd. now owns 75,727 shares of the industrial products company's stock worth $1,549,000 after purchasing an additional 22,562 shares during the period. 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.