Insider Selling: Energy Recovery (NASDAQ:ERII) Insider Sells 729 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 729 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $14.46, for a total value of $10,541.34. Following the completion of the sale, the insider directly owned 79,744 shares of the company’s stock, valued at approximately $1,153,098.24. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

William Yeung also recently made the following trade(s):

• On Wednesday, January 28th, William Yeung sold 7,271 shares of Energy Recovery stock. The stock was sold at an average price of $14.55, for a total value of $105,793.05.

Energy Recovery Trading Down 0.9%

NASDAQ:ERII traded down $0.14 during trading hours on Tuesday, hitting $14.81. The company had a trading volume of 381,048 shares, compared to its average volume of 318,411. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $18.32. The company has a market cap of $784.49 million, a P/E ratio of 43.56 and a beta of 1.09. The company has a 50-day moving average of $14.28 and a 200 day moving average of $14.70.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Energy Recovery had a net margin of 14.44% and a return on equity of 10.09%. The firm had revenue of $32.00 million for the quarter, compared to analysts’ expectations of $29.94 million. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Energy Recovery

Institutional investors and hedge funds have recently modified their holdings of the company. Wexford Capital LP acquired a new position in Energy Recovery during the 3rd quarter worth about $27,000. Hantz Financial Services Inc. grew its position in Energy Recovery by 2,581.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,859 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Energy Recovery during the second quarter worth about $37,000. State of Alaska Department of Revenue acquired a new stake in shares of Energy Recovery during the third quarter worth about $46,000. Finally, Comerica Bank lifted its position in shares of Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 2,324 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ERII. Loop Capital set a $18.20 price target on shares of Energy Recovery in a research note on Monday, November 10th. B. Riley reissued a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Recovery in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Energy Recovery has an average rating of “Moderate Buy” and a consensus price target of $17.07.

About Energy Recovery

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.