Insider Selling: Energy Recovery, Inc. (ERII) VP Sells 7,117 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) VP Andrew B. Stroud, Jr. sold 7,117 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $11.00, for a total transaction of $78,287.00. Following the completion of the sale, the vice president now owns 32,398 shares of the company’s stock, valued at approximately $356,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Energy Recovery, Inc. (NASDAQ:ERII) traded up $0.01 on Monday, reaching $10.99. 333,659 shares of the company’s stock were exchanged, compared to its average volume of 423,553. The company has a market capitalization of $588.47, a PE ratio of 156.86, a price-to-earnings-growth ratio of 2.22 and a beta of 5.73. Energy Recovery, Inc. has a 1 year low of $6.13 and a 1 year high of $12.73.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The business had revenue of $15.08 million for the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. research analysts predict that Energy Recovery, Inc. will post 0.33 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in ERII. Alliancebernstein L.P. lifted its stake in Energy Recovery by 19.8% during the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 3,300 shares during the period. Geode Capital Management LLC raised its stake in shares of Energy Recovery by 4.7% in the first quarter. Geode Capital Management LLC now owns 278,561 shares of the industrial products company’s stock valued at $2,317,000 after acquiring an additional 12,408 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Energy Recovery by 2,594.5% in the first quarter. Renaissance Technologies LLC now owns 441,900 shares of the industrial products company’s stock valued at $3,677,000 after acquiring an additional 425,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Energy Recovery by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 118,471 shares of the industrial products company’s stock valued at $986,000 after acquiring an additional 6,669 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in shares of Energy Recovery by 729.0% in the second quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 2,916 shares during the last quarter. Hedge funds and other institutional investors own 33.61% of the company’s stock.

Several equities research analysts recently weighed in on ERII shares. B. Riley increased their target price on shares of Energy Recovery from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. JMP Securities started coverage on shares of Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 target price for the company. ValuEngine upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. Finally, Seaport Global Securities started coverage on shares of Energy Recovery in a research note on Tuesday, October 17th. They issued a “buy” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.00.

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Energy Recovery Company Profile

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

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