Rodney Clemente Sells 5,387 Shares of Energy Recovery (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) 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 directly owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Energy Recovery Stock Up 3.6%

NASDAQ:ERII opened at $8.43 on Friday. Energy Recovery, Inc. has a twelve month low of $7.83 and a twelve month high of $18.32. The firm has a market capitalization of $434.48 million, a price-to-earnings ratio of 22.18 and a beta of 0.90. The stock’s 50 day moving average price is $8.60 and its two-hundred day moving average price is $10.76.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The company had revenue of $9.71 million during the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. As a group, analysts anticipate that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Energy Recovery

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wexford Capital LP bought a new position in Energy Recovery in the 3rd quarter valued at about $27,000. Parallel Advisors LLC acquired a new stake in Energy Recovery during the fourth quarter worth approximately $38,000. Group One Trading LLC bought a new stake in shares of Energy Recovery during the first quarter worth approximately $41,000. Comerica Bank boosted its holdings in shares of Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Energy Recovery by 172.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 3,803 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ERII shares. Freedom Capital cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Northcoast Research lowered Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Seaport Research Partners reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a research report on Wednesday, May 13th. Weiss Ratings downgraded 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 Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.00.

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.