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 company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $14.97, for a total value of $224,550.00. Following the completion of the sale, the director owned 640,220 shares of the company’s stock, valued at $9,584,093.40. This represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Energy Recovery Stock Performance

ERII traded down $0.22 during midday trading on Monday, reaching $14.50. 441,315 shares of the company were exchanged, compared to its average volume of 444,470. The stock has a market capitalization of $768.07 million, a P/E ratio of 42.65 and a beta of 1.13. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $18.32. The stock’s 50-day simple moving average is $15.51 and its 200 day simple moving average is $14.25.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently made changes to their positions in ERII. Alpha Wave Global LP grew its holdings in Energy Recovery by 132.2% in the 2nd quarter. Alpha Wave Global LP now owns 714,321 shares of the industrial products company’s stock valued at $9,129,000 after buying an additional 406,700 shares in the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in Energy Recovery in the second quarter valued at about $363,000. Teacher Retirement System of Texas lifted its position in Energy Recovery by 140.5% during the second quarter. Teacher Retirement System of Texas now owns 65,105 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 38,031 shares during the period. Versor Investments LP acquired a new stake in Energy Recovery during the second quarter worth about $243,000. Finally, Conestoga Capital Advisors LLC raised its position in shares of Energy Recovery by 25.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 112,420 shares of the industrial products company’s stock valued at $1,437,000 after buying an additional 22,895 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

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.