Energy Recovery, Inc. (NASDAQ:ERII) insider Lenox Sharon E. Smith sold 2,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $11.00, for a total transaction of $22,000.00. Following the completion of the transaction, the insider now directly owns 11,614 shares of the company’s stock, valued at $127,754. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Energy Recovery, Inc. (NASDAQ:ERII) traded down $0.23 during mid-day trading on Wednesday, reaching $10.57. 493,143 shares of the company were exchanged, compared to its average volume of 422,347. Energy Recovery, Inc. has a 12 month low of $6.13 and a 12 month high of $12.73. The company has a market capitalization of $558.46, a P/E ratio of 148.86, a P/E/G ratio of 2.11 and a beta of 5.73.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.31). Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $14.64 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Energy Recovery’s quarterly revenue was up 22.9% on a year-over-year basis. equities research analysts anticipate that Energy Recovery, Inc. will post 0.33 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in ERII. Alliancebernstein L.P. increased its stake in shares of Energy Recovery by 19.8% during the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 3,300 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Energy Recovery by 4.7% during the first quarter. Geode Capital Management LLC now owns 278,561 shares of the industrial products company’s stock valued at $2,317,000 after purchasing an additional 12,408 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Energy Recovery by 6.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 118,471 shares of the industrial products company’s stock valued at $986,000 after purchasing an additional 6,669 shares in the last quarter. National Planning Corp increased its stake in shares of Energy Recovery by 21.3% during the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 3,297 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Energy Recovery by 52.7% during the second quarter. First Trust Advisors LP now owns 388,821 shares of the industrial products company’s stock valued at $3,223,000 after purchasing an additional 134,240 shares in the last quarter. 33.58% of the stock is owned by institutional investors and hedge funds.

ERII has been the subject of a number of research reports. Seaport Global Securities initiated coverage on shares of Energy Recovery in a research note on Tuesday, October 17th. They issued a “buy” rating and a $17.00 price target for the company. JMP Securities initiated coverage on shares of Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price target for the company. Capital One Financial initiated coverage on shares of Energy Recovery in a research note on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price target for the company. B. Riley increased their price target on shares of Energy Recovery from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, FBR & Co set a $16.00 price target on shares of Energy Recovery and gave the stock a “buy” rating in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Energy Recovery presently has an average rating of “Buy” and a consensus price target of $17.00.

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About Energy Recovery

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

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