Energy Recovery (NASDAQ:ERII) Insider William Yeung Sells 2,048 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 2,048 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total transaction of $17,530.88. Following the sale, the insider directly owned 99,291 shares in the company, valued at $849,930.96. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Energy Recovery Trading Down 3.1%

Shares of NASDAQ ERII traded down $0.26 during mid-day trading on Wednesday, hitting $8.14. The company had a trading volume of 1,511,436 shares, compared to its average volume of 621,780. The company has a market capitalization of $419.54 million, a PE ratio of 21.42 and a beta of 0.90. The firm has a 50-day simple moving average of $8.60 and a two-hundred day simple moving average of $10.80. Energy Recovery, Inc. has a one year low of $7.83 and a one year high of $18.32.

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

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Ameriprise Financial Inc. increased its holdings in shares of Energy Recovery by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock valued at $69,025,000 after purchasing an additional 262,151 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Energy Recovery by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock worth $51,969,000 after buying an additional 89,696 shares during the last quarter. Amundi lifted its stake in shares of Energy Recovery by 31.2% during the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock worth $37,648,000 after buying an additional 888,618 shares during the last quarter. State Street Corp boosted its holdings in shares of Energy Recovery by 22.6% during the 4th quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock worth $23,803,000 after buying an additional 325,280 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Energy Recovery by 2.8% during the 4th quarter. Legal & General Group Plc now owns 1,343,847 shares of the industrial products company’s stock worth $18,128,000 after buying an additional 36,109 shares during the period. 83.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ERII. Wall Street Zen cut Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Seaport Research Partners reissued a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a research note on Wednesday, May 13th. Northcoast Research downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.