Energy Recovery (NASDAQ:ERII) Insider Sells $17,530.88 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 2,048 shares of Energy Recovery stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $17,530.88. Following the completion of the transaction, the insider directly owned 99,291 shares of the company’s stock, valued at approximately $849,930.96. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $8.65 on Friday. The firm has a market capitalization of $445.82 million, a PE ratio of 22.76 and a beta of 0.90. The firm’s 50-day moving average is $8.60 and its two-hundred day moving average is $10.75. Energy Recovery, Inc. has a 1 year low of $7.83 and a 1 year high of $18.32.

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 the consensus estimate 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 analyst estimates of $8.37 million. Analysts expect that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Energy Recovery

A number of large investors have recently made changes to their positions in ERII. Wexford Capital LP purchased a new stake in shares of Energy Recovery during the third quarter worth approximately $27,000. Parallel Advisors LLC purchased a new position in Energy Recovery in the fourth quarter worth approximately $38,000. Group One Trading LLC purchased a new position in Energy Recovery in the first quarter worth approximately $41,000. Comerica Bank grew its holdings in Energy Recovery by 150.5% during the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Energy Recovery by 172.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 3,803 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ERII shares. Seaport Research Partners reiterated a “buy” rating and set a $12.00 target price on shares of Energy Recovery in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. Northcoast Research cut Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Finally, Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Energy Recovery has an average rating of “Hold” and a consensus price target of $15.00.

Energy Recovery Company Profile

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.