Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) Director Sells 30,000 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 30,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $380,400.00. Following the completion of the sale, the director now owns 655,220 shares in the company, valued at $8,308,189.60. This represents a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arve Hanstveit also recently made the following trade(s):

• On Wednesday, June 11th, Arve Hanstveit sold 20,000 shares of Energy Recovery stock. The shares were sold at an average price of $12.75, for a total value of $255,000.00.

Energy Recovery Trading Down 1.7%

Shares of NASDAQ:ERII opened at $12.36 on Friday. The stock has a market capitalization of $673.61 million, a P/E ratio of 36.35 and a beta of 1.02. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27. The business has a 50-day moving average price of $13.68 and a two-hundred day moving average price of $14.74.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). The firm had revenue of $8.07 million for the quarter, compared to the consensus estimate of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business’s revenue for the quarter was down 33.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen cut Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Fearnley Fonds raised Energy Recovery from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, B. Riley cut Energy Recovery from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.88.

Institutional Trading of Energy Recovery

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Van ECK Associates Corp raised its holdings in Energy Recovery by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock worth $1,440,000 after purchasing an additional 1,808 shares during the last quarter. Manchester Capital Management LLC grew its position in shares of Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after buying an additional 830 shares during the period. Baillie Gifford & Co. grew its position in shares of Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after buying an additional 243,653 shares during the period. Keene & Associates Inc. grew its position in shares of Energy Recovery by 15.5% during the 4th quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company’s stock worth $479,000 after buying an additional 4,375 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock worth $6,989,000 after buying an additional 6,834 shares during the period. 83.58% of the stock is 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.