Energy Recovery (NASDAQ:ERII) SVP Rodney Clemente Sells 5,387 Shares

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the sale, the senior vice president directly owned 108,301 shares of the company’s stock, valued at approximately $927,056.56. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Energy Recovery Stock Down 3.1%

NASDAQ:ERII opened at $8.14 on Thursday. Energy Recovery, Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $18.32. The stock has a market cap of $419.54 million, a PE ratio of 21.42 and a beta of 0.90. The firm’s fifty day simple moving average is $8.60 and its 200-day simple moving average is $10.80.

Energy Recovery (NASDAQ:ERII) last announced its quarterly 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). The company had revenue of $9.71 million during the quarter, compared to analysts’ expectations of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. Equities analysts anticipate that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in Energy Recovery by 43.1% during the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock valued at $258,000 after buying an additional 4,899 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Energy Recovery in the first quarter worth $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Energy Recovery by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock worth $714,000 after acquiring an additional 3,185 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Energy Recovery by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company’s stock valued at $3,274,000 after acquiring an additional 19,992 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Energy Recovery by 54.4% in the first quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock valued at $1,944,000 after acquiring an additional 43,089 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Seaport Research Partners reaffirmed a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday, May 13th. Wall Street Zen downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. 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 MarketBeat, Energy Recovery presently has a consensus rating of “Hold” and a consensus target price of $15.00.

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.