Colin Sabol Acquires 11,180 Shares of Energy Recovery (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Colin Sabol bought 11,180 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $8.88 per share, with a total value of $99,278.40. Following the completion of the transaction, the director owned 55,671 shares in the company, valued at approximately $494,358.48. The trade was a 25.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Energy Recovery Price Performance

Shares of Energy Recovery stock traded up $0.41 during trading hours on Wednesday, hitting $8.99. 2,304,906 shares of the company’s stock traded hands, compared to its average volume of 850,908. Energy Recovery, Inc. has a 12-month low of $7.83 and a 12-month high of $18.32. The stock has a market capitalization of $463.34 million, a price-to-earnings ratio of 23.66 and a beta of 0.94. The company has a fifty day simple moving average of $9.50 and a 200-day simple moving average of $12.00.

Energy Recovery (NASDAQ:ERII) last announced 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 net margin of 15.07% and a return on equity of 10.89%. The business had revenue of $9.71 million for the quarter, compared to analysts’ expectations of $8.37 million. On average, analysts forecast that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Energy Recovery by 10.2% during the first quarter. Bank of America Corp DE now owns 58,768 shares of the industrial products company’s stock valued at $592,000 after buying an additional 5,428 shares during the period. Amundi increased its position in shares of Energy Recovery by 31.2% during the first quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock valued at $37,648,000 after buying an additional 888,618 shares during the period. Lazard Asset Management LLC increased its position in shares of Energy Recovery by 54.7% during the first quarter. Lazard Asset Management LLC now owns 67,429 shares of the industrial products company’s stock valued at $679,000 after buying an additional 23,838 shares during the period. Renaissance Technologies LLC increased its position in shares of Energy Recovery by 40.1% during the first quarter. Renaissance Technologies LLC now owns 144,265 shares of the industrial products company’s stock valued at $1,453,000 after buying an additional 41,280 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Energy Recovery by 47.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock valued at $5,177,000 after buying an additional 165,915 shares during the period. 83.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Seaport Research Partners restated a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a research note on Wednesday, May 13th. Northcoast Research cut Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Weiss Ratings cut Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Loop Capital set a $13.00 price objective on Energy Recovery in a research note on Monday, March 2nd. One research 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.