Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) CTO Farshad Ghasripoor sold 4,079 shares of Energy Recovery stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $59,675.77. Following the sale, the chief technology officer now directly owns 137,487 shares in the company, valued at approximately $2,011,434.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Energy Recovery Price Performance
Shares of NASDAQ:ERII traded up $0.04 during midday trading on Tuesday, reaching $14.47. 258,582 shares of the company’s stock were exchanged, compared to its average volume of 422,125. The firm’s 50 day simple moving average is $13.55 and its two-hundred day simple moving average is $14.55. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $30.70. The stock has a market cap of $829.57 million, a price-to-earnings ratio of 42.44 and a beta of 1.24.
Energy Recovery (NASDAQ:ERII – Get Free Report) last posted its earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The firm had revenue of $12.09 million during the quarter, compared to the consensus estimate of $12.49 million. Equities research analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Read Our Latest Research Report on ERII
Hedge Funds Weigh In On Energy Recovery
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Energy Recovery by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,893,124 shares of the industrial products company’s stock worth $61,363,000 after purchasing an additional 41,967 shares during the last quarter. Raymond James & Associates raised its stake in Energy Recovery by 2.5% during the 4th quarter. Raymond James & Associates now owns 305,240 shares of the industrial products company’s stock worth $5,751,000 after acquiring an additional 7,354 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Energy Recovery by 29.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 116,914 shares of the industrial products company’s stock worth $2,203,000 after acquiring an additional 26,450 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Energy Recovery by 16.9% during the fourth quarter. Vontobel Holding Ltd. now owns 190,467 shares of the industrial products company’s stock worth $3,588,000 after purchasing an additional 27,495 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of Energy Recovery in the 4th quarter valued at about $117,000. Institutional investors and hedge funds own 83.58% of the company’s stock.
About Energy Recovery
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.
Further Reading
- Five stocks we like better than Energy Recovery
- Why Invest in 5G? How to Invest in 5G Stocks
- AbbVie Analysts Lead the Stock Higher as Humira Worries Recede
- What is a Secondary Public Offering? What Investors Need to Know
- Harley-Davidson Stock Revs Up With Billion Dollar Buyback Program
- 3 Stocks to Consider Buying in October
- Cruise Line Stock Sinks Despite Beating EPS and Raised Guidance
Receive News & Ratings for Energy Recovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery and related companies with MarketBeat.com's FREE daily email newsletter.