Energy Recovery, Inc. (ERII) Insider Sells $22,000.00 in Stock
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.
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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