Energy Recovery (NASDAQ:ERII) Director Sells $224,550.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $14.97, for a total value of $224,550.00. Following the completion of the sale, the director directly owned 640,220 shares of the company’s stock, valued at approximately $9,584,093.40. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Energy Recovery Trading Up 1.3%

NASDAQ:ERII opened at $14.41 on Thursday. The business’s fifty day moving average price is $15.44 and its 200 day moving average price is $14.27. The firm has a market capitalization of $763.30 million, a price-to-earnings ratio of 42.38 and a beta of 1.13. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $18.32.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $32.00 million for the quarter, compared to analysts’ expectations of $29.94 million. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%. Equities analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. CJS Securities assumed coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. Loop Capital set a $18.20 price objective on Energy Recovery in a research report on Monday, November 10th. Finally, B. Riley restated a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.07.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its holdings in Energy Recovery by 5.1% during the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock valued at $69,025,000 after buying an additional 262,151 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Energy Recovery by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,762,742 shares of the industrial products company’s stock valued at $58,021,000 after acquiring an additional 137,338 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Energy Recovery by 32.2% in the 3rd quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock valued at $20,165,000 after acquiring an additional 318,584 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Energy Recovery by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 925,097 shares of the industrial products company’s stock worth $14,265,000 after purchasing an additional 22,708 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Energy Recovery by 42.6% in the 2nd quarter. Invesco Ltd. now owns 861,344 shares of the industrial products company’s stock worth $11,008,000 after purchasing an additional 257,266 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Company Profile

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.