Energy Recovery (NASDAQ:ERII) Director Pamela Tondreau Buys 20,000 Shares

Energy Recovery, Inc. (NASDAQ:ERII) Director Pamela Tondreau purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $8.34 per share, with a total value of $166,800.00. Following the purchase, the director directly owned 37,362 shares of the company’s stock, valued at approximately $311,599.08. The trade was a 115.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Energy Recovery Stock Performance

ERII stock opened at $8.41 on Friday. The company has a fifty day moving average price of $10.30 and a 200-day moving average price of $13.06. The company has a market capitalization of $433.45 million, a P/E ratio of 22.13 and a beta of 1.04. Energy Recovery, Inc. has a 52-week low of $8.14 and a 52-week high of $18.32.

Energy Recovery (NASDAQ:ERII) 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 the consensus estimate of ($0.10) by ($0.13). The business 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%. As a group, sell-side analysts forecast that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERII has been the subject of several analyst reports. Northcoast Research downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Wall Street Zen downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday. Freedom Capital downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Loop Capital set a $13.00 target price on shares of Energy Recovery in a research note on Monday, March 2nd. Finally, Seaport Research Partners reissued a “buy” rating and set a $12.00 target price on shares of Energy Recovery in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently bought and sold shares of the stock. Wexford Capital LP acquired a new stake in Energy Recovery in the third quarter worth $27,000. Hantz Financial Services Inc. grew its holdings in Energy Recovery by 2,581.9% in the third quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,859 shares during the period. Parallel Advisors LLC acquired a new stake in Energy Recovery in the fourth quarter worth $38,000. Group One Trading LLC acquired a new stake in Energy Recovery in the first quarter worth $41,000. Finally, State of Alaska Department of Revenue acquired a new stake in Energy Recovery in the third quarter worth $46,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.