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 two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ERII shares. B. Riley reissued a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. Loop Capital set a $18.20 price target on Energy Recovery in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Recovery in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.07.

Energy Recovery Stock Up 0.9%

The company’s 50 day simple moving average is $14.24 and its two-hundred day simple moving average is $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 issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $32.00 million for the quarter, compared to the consensus estimate of $29.94 million. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%. Analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $14.97, for a total transaction of $224,550.00. Following the sale, the director owned 640,220 shares in the company, valued at approximately $9,584,093.40. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Energy Recovery

A number of institutional investors have recently bought and sold shares of ERII. Comerica Bank increased its stake in Energy Recovery by 150.5% during 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. increased its position in shares of Energy Recovery by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after acquiring an additional 89,696 shares during the period. Legacy Capital Group California Inc. purchased a new position in Energy Recovery in the 4th quarter worth $140,000. Evergreen Capital Management LLC acquired a new stake in Energy Recovery during the 4th quarter worth about $235,000. Finally, State of Alaska Department of Revenue grew its stake in 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 purchasing an additional 7,626 shares during 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.