Colin Sabol Purchases 11,180 Shares of Energy Recovery (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Colin Sabol purchased 11,180 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the purchase, the director owned 55,671 shares of the company’s stock, valued at $494,358.48. This represents a 25.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Energy Recovery Stock Performance

NASDAQ ERII opened at $9.42 on Friday. The business’s 50 day moving average price is $9.46 and its 200-day moving average price is $11.92. Energy Recovery, Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $18.32. The company has a market cap of $485.51 million, a P/E ratio of 24.79 and a beta of 0.94.

Energy Recovery (NASDAQ:ERII) last issued 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 return on equity of 10.89% and a net margin of 15.07%.The business had revenue of $9.71 million for the quarter, compared to the consensus estimate of $8.37 million. As a group, equities analysts predict that Energy Recovery, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

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 research report on Wednesday, April 15th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a research note on Wednesday, May 13th. 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 stock. Based on data from MarketBeat, Energy Recovery has an average rating of “Hold” and a consensus target price of $15.00.

Institutional Investors Weigh In On Energy Recovery

A number of large investors have recently bought and sold shares of ERII. Bank of America Corp DE lifted its holdings in shares of Energy Recovery by 10.2% in the 1st quarter. Bank of America Corp DE now owns 58,768 shares of the industrial products company’s stock valued at $592,000 after buying an additional 5,428 shares during the period. Amundi raised its position in Energy Recovery by 31.2% during the first quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock valued at $37,648,000 after acquiring an additional 888,618 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Energy Recovery by 54.7% in the first quarter. Lazard Asset Management LLC now owns 67,429 shares of the industrial products company’s stock valued at $679,000 after acquiring an additional 23,838 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Energy Recovery by 40.1% in the 1st quarter. Renaissance Technologies LLC now owns 144,265 shares of the industrial products company’s stock valued at $1,453,000 after purchasing an additional 41,280 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Energy Recovery by 47.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock worth $5,177,000 after acquiring an additional 165,915 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.