Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.73 and last traded at $13.14, with a volume of 119931 shares. The stock had previously closed at $14.65.
Wall Street Analysts Forecast Growth
Separately, Evercore ISI dropped their price objective on Energy Recovery from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 28th.
Read Our Latest Research Report on Energy Recovery
Energy Recovery Trading Down 11.0 %
The firm has a market cap of $747.58 million, a P/E ratio of 34.68 and a beta of 1.26. The firm has a 50-day simple moving average of $14.87 and a 200-day simple moving average of $16.62.
Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results 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). The company had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. The firm's revenue was up 35.2% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. Research analysts predict that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.
Insider Buying and Selling at Energy Recovery
In other Energy Recovery news, CEO David W. Moon acquired 10,750 shares of the firm's stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $15.51 per share, for a total transaction of $166,732.50. Following the acquisition, the chief executive officer now owns 19,250 shares in the company, valued at approximately $298,567.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 sale, the director now owns 807,055 shares in the company, valued at approximately $12,501,281.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David W. Moon bought 10,750 shares of Energy Recovery stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $15.51 per share, with a total value of $166,732.50. Following the purchase, the chief executive officer now directly owns 19,250 shares in the company, valued at $298,567.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 93,913 shares of company stock valued at $1,478,808. 4.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Energy Recovery
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in Energy Recovery by 28.3% in the 1st quarter. BNP Paribas Financial Markets now owns 99,064 shares of the industrial products company's stock worth $1,564,000 after acquiring an additional 21,840 shares during the last quarter. Mission Wealth Management LP acquired a new stake in Energy Recovery during the 1st quarter worth about $703,000. Anchor Capital Management Company LLC grew its position in Energy Recovery by 39.1% during the 1st quarter. Anchor Capital Management Company LLC now owns 355,500 shares of the industrial products company's stock worth $5,613,000 after purchasing an additional 100,000 shares during the period. Clear Creek Financial Management LLC acquired a new stake in Energy Recovery during the 1st quarter worth about $244,000. Finally, Keene & Associates Inc. acquired a new stake in shares of Energy Recovery during the 1st quarter valued at about $473,000. Hedge funds and other institutional investors own 83.58% of the company's stock.
About Energy Recovery
(
Get Free Report)
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.
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