Energy Recovery (NASDAQ:ERII) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

by · The Cerbat Gem

Shares of Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.34 and traded as high as $14.55. Energy Recovery shares last traded at $14.43, with a volume of 393,571 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ERII. CJS Securities started coverage on Energy Recovery in a research note on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 target price for the company. Loop Capital set a $18.20 price objective on shares of Energy Recovery in a research note on Monday, November 10th. B. Riley reiterated a “neutral” rating on shares of Energy Recovery in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Energy Recovery in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Energy Recovery presently has an average rating of “Moderate Buy” and a consensus price target of $17.07.

Read Our Latest Stock Analysis on Energy Recovery

Energy Recovery Trading Down 2.5%

The firm has a market cap of $745.29 million, a price-to-earnings ratio of 41.38 and a beta of 1.13. The firm’s 50-day moving average is $15.27 and its 200-day moving average is $14.35.

Energy Recovery (NASDAQ:ERII – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $32.00 million for the quarter, compared to analyst estimates of $29.94 million. Energy Recovery had a net margin of 14.44% and a return on equity of 10.09%. Analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, insider William Yeung sold 9,168 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $18.00, for a total transaction of $165,024.00. Following the completion of the sale, the insider directly owned 97,369 shares of the company’s stock, valued at approximately $1,752,642. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $14.97, for a total value of $224,550.00. Following the completion of the transaction, the director owned 640,220 shares in the company, valued at $9,584,093.40. This represents a 2.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,325 shares of company stock valued at $626,676 in the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds have recently bought and sold shares of the company. Wexford Capital LP bought a new stake in shares of Energy Recovery in the 3rd quarter worth $27,000. Hantz Financial Services Inc. boosted its holdings in Energy Recovery by 2,581.9% during the third quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,859 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in Energy Recovery in the 2nd quarter worth about $37,000. State of Alaska Department of Revenue purchased a new stake in Energy Recovery in the 3rd quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC increased its stake in Energy Recovery by 172.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock valued at $77,000 after buying an additional 3,803 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Company Profile

(Get Free Report)

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.

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