Energy Recovery, Inc. (NASDAQ:ERII) Director Olav Fjell acquired 18,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $7.08 per share, with a total value of $127,440.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at $127,440. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Energy Recovery, Inc. (NASDAQ:ERII) traded up 0.29% during mid-day trading on Friday, hitting $6.90. 1,078,463 shares of the stock traded hands. The company has a 50-day moving average of $6.74 and a 200 day moving average of $7.71. The firm has a market capitalization of $369.67 million, a P/E ratio of 237.93 and a beta of 5.54. Energy Recovery, Inc. has a 1-year low of $6.13 and a 1-year high of $16.67.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The company had revenue of $12.20 million during the quarter, compared to analyst estimates of $14.99 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue was down 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Energy Recovery, Inc. will post $0.40 EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC lifted its stake in 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 worth $400,000 after acquiring an additional 2,916 shares during the period. Alambic Investment Management L.P. purchased a new stake in Energy Recovery in the first quarter worth $104,000. Tudor Investment Corp ET AL purchased a new stake in Energy Recovery in the first quarter worth $113,000. Parametric Portfolio Associates LLC purchased a new stake in Energy Recovery in the second quarter worth $117,000. Finally, Perigon Wealth Management LLC lifted its stake in Energy Recovery by 149.7% in the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 9,099 shares during the period. 33.71% of the stock is owned by institutional investors.

Several research firms have recently weighed in on ERII. JMP Securities began coverage on shares of Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price objective for the company. BidaskClub lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, FBR & Co set a $16.00 price objective on shares of Energy Recovery and gave the company a “buy” rating in a research note on Monday, August 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.19.

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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