Insider Selling: Energy Recovery (NASDAQ:ERII) SVP Sells $46,112.72 in Stock

Energy Recovery, Inc. (NASDAQ:ERIIGet Free Report) SVP Rodney Clemente sold 5,387 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the transaction, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Energy Recovery Stock Performance

ERII stock opened at $8.65 on Friday. The firm has a fifty day moving average price of $8.60 and a 200 day moving average price of $10.75. Energy Recovery, Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $18.32. The firm has a market cap of $445.82 million, a PE ratio of 22.76 and a beta of 0.90.

Energy Recovery (NASDAQ:ERIIGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The business had revenue of $9.71 million for the quarter, compared to analysts’ expectations of $8.37 million. On average, equities analysts predict that Energy Recovery, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ERII. Seaport Research Partners restated a “buy” rating and set a $12.00 target price on shares of Energy Recovery in a research report on Wednesday, May 13th. Northcoast Research lowered Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings cut Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Finally, Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.00.

Get Our Latest Report on Energy Recovery

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ERII. Amundi raised its stake in shares of Energy Recovery by 323.6% in the fourth quarter. Amundi now owns 2,851,691 shares of the industrial products company’s stock valued at $38,457,000 after acquiring an additional 2,178,560 shares during the period. ArrowMark Colorado Holdings LLC purchased a new position in shares of Energy Recovery during the 4th quarter worth about $5,086,000. State Street Corp boosted its stake in shares of Energy Recovery by 22.6% during the 4th quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock worth $23,803,000 after purchasing an additional 325,280 shares during the period. Legal & General Group Plc boosted its stake in shares of Energy Recovery by 32.2% during the 3rd quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock worth $20,165,000 after purchasing an additional 318,584 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Energy Recovery by 146.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company’s stock valued at $5,871,000 after purchasing an additional 272,648 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

About Energy Recovery

(Get Free Report)

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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Insider Buying and Selling by Quarter for Energy Recovery (NASDAQ:ERII)

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