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

Energy Recovery, Inc. (NASDAQ:ERII) shares saw an uptick in trading volume on Friday . 2,120,258 shares traded hands during trading, an increase of 391% from the previous session’s volume of 431,796 shares.The stock last traded at $13.9250 and had previously closed at $14.49.

Wall Street Analysts Forecast Growth

ERII has been the topic of several recent research reports. CJS Securities initiated coverage on Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Energy Recovery in a research report on Tuesday, October 14th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Energy Recovery in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $18.75.

Energy Recovery Stock Down 3.5%

The firm has a market capitalization of $743.71 million, a price-to-earnings ratio of 33.29 and a beta of 1.10. The stock has a 50 day moving average of $15.66 and a 200 day moving average of $14.20.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The company 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 11.67% and a net margin of 17.02%. Energy Recovery has set its FY 2025 guidance at EPS. Analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Energy Recovery news, insider William Yeung sold 9,168 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $18.00, for a total transaction of $165,024.00. Following the completion of the sale, the insider owned 97,369 shares in the company, valued at $1,752,642. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 72,333 shares of company stock worth $1,122,195 in the last three months. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Energy Recovery by 2.6% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 36,649 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 914 shares during the last quarter. Vanguard Group Inc. grew its stake in Energy Recovery by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,762,742 shares of the industrial products company’s stock worth $58,021,000 after buying an additional 137,338 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Energy Recovery in the third quarter worth $170,000. MQS Management LLC bought a new stake in Energy Recovery in the third quarter valued at $233,000. Finally, S&CO Inc. boosted its holdings in shares of Energy Recovery by 9.1% during the third quarter. S&CO Inc. now owns 12,000 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

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.