Energy Recovery (NASDAQ:ERII) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Energy Recovery, Inc. (NASDAQ:ERII)’s share 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 changing hands.

Wall Street Analyst Weigh In

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

Energy Recovery Stock Performance

The firm has a market cap of $772.83 million, a price-to-earnings ratio of 42.91 and a beta of 1.08. The business’s 50-day moving average is $14.26 and its 200-day moving average is $14.67.

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

Insider Activity

In other Energy Recovery news, Director Arve Hanstveit sold 15,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were 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 of the company’s stock, valued at $9,584,093.40. This represents a 2.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Energy Recovery

Hedge funds have recently modified their holdings of the stock. Wexford Capital LP bought a new position in Energy Recovery in the third quarter valued at about $27,000. Hantz Financial Services Inc. raised its position in shares of Energy Recovery by 2,581.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,859 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Energy Recovery in the 2nd quarter valued at $37,000. State of Alaska Department of Revenue bought a new position in shares of Energy Recovery in the 3rd quarter worth $46,000. Finally, Comerica Bank grew its stake in shares of Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 2,324 shares during the period. 83.58% of the stock is owned by institutional investors.

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.