Energy Recovery (NASDAQ:ERII) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Energy Recovery, Inc. (NASDAQ:ERII)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.66 and traded as high as $14.90. Energy Recovery shares last traded at $14.78, with a volume of 296,804 shares.

Analysts Set New Price Targets

ERII has been the topic of several research reports. B. Riley reiterated a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Recovery in a report on Monday, December 29th. Finally, Loop Capital set a $18.20 target price on shares of Energy Recovery in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Energy Recovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.07.

Energy Recovery Price Performance

The stock has a fifty day simple moving average of $14.24 and a 200-day simple moving average of $14.66. The company has a market capitalization of $782.90 million, a price-to-earnings ratio of 43.47 and a beta of 1.08.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Energy Recovery had a net margin of 14.44% and a return on equity of 10.09%. The firm had revenue of $32.00 million during the quarter, compared to analyst estimates of $29.94 million. As a group, equities analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Energy Recovery news, Director Arve Hanstveit sold 15,000 shares of the company’s stock in a transaction dated 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 approximately $9,584,093.40. This represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors have recently modified their holdings of ERII. Comerica Bank increased its stake in shares of Energy Recovery by 150.5% in the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 2,324 shares in the last quarter. Vanguard Group Inc. grew its holdings in Energy Recovery by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after purchasing an additional 89,696 shares during the period. Legacy Capital Group California Inc. purchased a new stake in shares of Energy Recovery in the fourth quarter valued at approximately $140,000. Evergreen Capital Management LLC acquired a new position in shares of Energy Recovery during the 4th quarter worth approximately $235,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Energy Recovery by 252.9% during the 4th quarter. State of Alaska Department of Revenue now owns 10,642 shares of the industrial products company’s stock valued at $142,000 after buying an additional 7,626 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

About Energy Recovery

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.