Energy Recovery (NASDAQ:ERII) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Energy Recovery, Inc. (NASDAQ:ERII) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.48 and traded as high as $14.58. Energy Recovery shares last traded at $14.33, with a volume of 372,076 shares trading hands.

Wall Street Analysts Forecast Growth

ERII has been the subject of several analyst reports. CJS Securities initiated coverage on Energy Recovery in a report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 price objective for the company. B. Riley reiterated a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Recovery in a report on Monday, December 29th. Finally, Loop Capital set a $18.20 price target on shares of Energy Recovery in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Energy Recovery has a consensus rating of “Moderate Buy” and a consensus target price of $17.07.

Energy Recovery Trading Up 4.4%

The firm has a market capitalization of $759.06 million, a price-to-earnings ratio of 42.15 and a beta of 1.08. The stock’s 50-day moving average is $14.58 and its 200-day moving average is $14.48.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%.The company had revenue of $32.00 million during the quarter, compared to analysts’ expectations of $29.94 million. On average, equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William Yeung sold 9,168 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $18.00, for a total value of $165,024.00. Following the completion of the sale, the insider directly owned 97,369 shares in the company, valued at $1,752,642. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arve Hanstveit sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $14.97, for a total value of $224,550.00. Following the transaction, the director directly owned 640,220 shares of the company’s stock, valued at approximately $9,584,093.40. This represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,758 shares of company stock worth $569,604 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently made changes to their positions in ERII. Wexford Capital LP acquired a new stake in Energy Recovery during the 3rd quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its stake in shares of Energy Recovery by 2,581.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,859 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Energy Recovery during the second quarter worth $37,000. State of Alaska Department of Revenue bought a new position in Energy Recovery during the third quarter worth $46,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Energy Recovery by 172.2% in the second 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 period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Company Profile

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.