Energy Recovery, Inc. (NASDAQ:ERII) CEO Acquires $141,330.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon acquired 10,500 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $13.46 per share, with a total value of $141,330.00. Following the completion of the transaction, the chief executive officer now directly owns 29,750 shares in the company, valued at approximately $400,435. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Energy Recovery Trading Up 3.0 %

Shares of ERII traded up $0.41 during mid-day trading on Thursday, hitting $13.90. The company’s stock had a trading volume of 676,309 shares, compared to its average volume of 462,671. The firm has a 50-day simple moving average of $14.72 and a 200 day simple moving average of $16.44. The firm has a market capitalization of $796.89 million, a P/E ratio of 40.65 and a beta of 1.26. Energy Recovery, Inc. has a 1-year low of $12.45 and a 1-year high of $30.76.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The business had revenue of $57.19 million during the quarter, compared to analyst estimates of $63.57 million. During the same period in the prior year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ERII. Evercore ISI decreased their price objective on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com cut Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Hedge Funds Weigh In On Energy Recovery

Several hedge funds have recently bought and sold shares of the company. Trillium Asset Management LLC purchased a new position in Energy Recovery in the 1st quarter valued at approximately $3,774,000. State Board of Administration of Florida Retirement System increased its stake in Energy Recovery by 391.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock valued at $1,235,000 after purchasing an additional 62,287 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Energy Recovery during the first quarter worth $2,372,000. ProShare Advisors LLC purchased a new position in Energy Recovery during the first quarter worth $158,000. Finally, Inspire Investing LLC increased its position in Energy Recovery by 11.8% during the first quarter. Inspire Investing LLC now owns 22,954 shares of the industrial products company’s stock worth $362,000 after buying an additional 2,418 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.