Energy Recovery (NASDAQ:ERII) Sees Unusually-High Trading Volume – What’s Next?

Shares of Energy Recovery, Inc. (NASDAQ:ERII) saw an uptick in trading volume on Thursday . 2,705,207 shares changed hands during mid-day trading, an increase of 522% from the previous session’s volume of 434,687 shares.The stock last traded at $15.28 and had previously closed at $15.50.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ERII. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. B. Riley decreased their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Energy Recovery Trading Up 0.8 %

The stock has a 50-day simple moving average of $17.78 and a 200 day simple moving average of $15.70. The company has a market cap of $904.82 million, a price-to-earnings ratio of 45.59 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. As a group, research analysts forecast that Energy Recovery, Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Farshad Ghasripoor sold 10,526 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the transaction, the chief technology officer now owns 126,961 shares in the company, valued at $2,281,489.17. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,406 shares of company stock worth $828,688 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC purchased a new stake in shares of Energy Recovery during the 1st quarter worth approximately $158,000. State Board of Administration of Florida Retirement System increased its position in Energy Recovery by 391.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 62,287 shares during the period. Vanguard Group Inc. increased its position in Energy Recovery by 1.8% during the first quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after buying an additional 53,720 shares during the period. Elkhorn Partners Limited Partnership acquired a new position in Energy Recovery during the first quarter worth approximately $1,174,000. Finally, Lazard Asset Management LLC increased its position in Energy Recovery by 39.6% during the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after buying an additional 3,076 shares during the period. 83.58% of the stock is 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.