Insider Buying: Energy Recovery (NASDAQ:ERII) Director Buys 11,180 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Colin Sabol purchased 11,180 shares of the business’s stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $8.88 per share, for a total transaction of $99,278.40. Following the completion of the acquisition, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. This represents a 25.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Energy Recovery Stock Performance

Shares of Energy Recovery stock traded up $0.41 on Wednesday, reaching $8.99. 2,304,906 shares of the company’s stock were exchanged, compared to its average volume of 850,908. Energy Recovery, Inc. has a 52 week low of $7.83 and a 52 week high of $18.32. The firm’s 50-day moving average is $9.50 and its two-hundred day moving average is $12.00. The company has a market capitalization of $463.34 million, a P/E ratio of 23.66 and a beta of 0.94.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The firm had revenue of $9.71 million during the quarter, compared to the consensus estimate of $8.37 million. On average, analysts expect that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Energy Recovery

Large investors have recently bought and sold shares of the stock. Wexford Capital LP bought a new position in Energy Recovery during the 3rd quarter valued at $27,000. Parallel Advisors LLC bought a new position in Energy Recovery during the 4th quarter valued at $38,000. Group One Trading LLC bought a new position in Energy Recovery during the 1st quarter valued at $41,000. Comerica Bank lifted its stake in Energy Recovery by 150.5% during the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake 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 valued at $77,000 after acquiring an additional 3,803 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ERII shares. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings cut Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen cut Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Loop Capital set a $13.00 target price on Energy Recovery in a report on Monday, March 2nd. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

About Energy Recovery

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.