Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) insider William Yeung sold 2,048 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total transaction of $17,530.88. Following the completion of the sale, the insider owned 99,291 shares in the company, valued at $849,930.96. This represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Energy Recovery Trading Down 3.1%
NASDAQ:ERII opened at $8.14 on Thursday. The company has a market cap of $419.54 million, a PE ratio of 21.42 and a beta of 0.90. The company has a 50 day simple moving average of $8.60 and a two-hundred day simple moving average of $10.80. Energy Recovery, Inc. has a 12 month low of $7.83 and a 12 month high of $18.32.
Energy Recovery (NASDAQ:ERII – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The firm had revenue of $9.71 million for the quarter, compared to the consensus estimate of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. Research analysts forecast that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.
Institutional Investors Weigh In On Energy Recovery
Wall Street Analysts Forecast Growth
ERII has been the topic of a number of recent research reports. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Seaport Research Partners restated a “buy” rating and set a $12.00 price target on shares of Energy Recovery in a research note on Wednesday, May 13th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.00.
View Our Latest Stock Analysis on Energy Recovery
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.
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