Arve Hanstveit Sells 30,000 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total value of $380,400.00. Following the sale, the director now directly owns 655,220 shares of the company’s stock, valued at $8,308,189.60. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Arve Hanstveit also recently made the following trade(s):

• On Wednesday, June 11th, Arve Hanstveit sold 20,000 shares of Energy Recovery stock. The shares were sold at an average price of $12.75, for a total value of $255,000.00.

Energy Recovery Trading Down 1.7%

ERII opened at $12.36 on Monday. The company has a market capitalization of $673.61 million, a price-to-earnings ratio of 36.35 and a beta of 1.02. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The business’s fifty day simple moving average is $13.68 and its 200-day simple moving average is $14.74.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The business had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm’s revenue was down 33.1% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. On average, equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on ERII shares. Wall Street Zen downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. B. Riley lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Finally, Fearnley Fonds raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $18.88.

Institutional Investors Weigh In On Energy Recovery

Hedge funds have recently modified their holdings of the business. Nebula Research & Development LLC increased its holdings in Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after buying an additional 687 shares during the period. Manchester Capital Management LLC boosted its position in Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock valued at $429,000 after acquiring an additional 830 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Energy Recovery by 5.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 850 shares during the period. DnB Asset Management AS increased its holdings in shares of Energy Recovery by 2.9% in the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company’s stock valued at $550,000 after acquiring an additional 1,050 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Energy Recovery by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock worth $1,440,000 after acquiring an additional 1,808 shares in the last quarter. Hedge funds and other institutional investors 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.