Insider Selling: Energy Recovery (NASDAQ:ERII) Insider Sells $105,793.05 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 7,271 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $14.55, for a total value of $105,793.05. Following the completion of the sale, the insider owned 90,098 shares in the company, valued at $1,310,925.90. This represents a 7.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

William Yeung also recently made the following trade(s):

• On Monday, February 2nd, William Yeung sold 729 shares of Energy Recovery stock. The shares were sold at an average price of $14.46, for a total transaction of $10,541.34.

Energy Recovery Trading Up 0.9%

NASDAQ:ERII opened at $15.11 on Friday. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $18.32. The firm has a market cap of $800.38 million, a price-to-earnings ratio of 44.44 and a beta of 1.09. The company’s 50-day moving average is $14.32 and its two-hundred day moving average is $14.71.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $32.00 million during the quarter, compared to the consensus estimate of $29.94 million. Energy Recovery had a net margin of 14.44% and a return on equity of 10.09%. On average, equities research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Energy Recovery

A number of large investors have recently modified their holdings of ERII. Wexford Capital LP purchased a new stake in shares of Energy Recovery during the 3rd quarter worth about $27,000. Hantz Financial Services Inc. lifted its position in Energy Recovery by 2,581.9% during the third quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,859 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Energy Recovery during the second quarter worth approximately $37,000. State of Alaska Department of Revenue acquired a new stake in shares of Energy Recovery in the third quarter worth $46,000. Finally, Comerica Bank increased its position in shares of Energy Recovery by 150.5% in the fourth 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. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Loop Capital set a $18.20 price objective on Energy Recovery in a research report on Monday, November 10th. B. Riley restated a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Recovery in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.07.

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.