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

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 5,387 shares of the company’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 $46,112.72. Following the completion of the sale, the senior vice president directly owned 108,301 shares in the company, valued at $927,056.56. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Energy Recovery Stock Performance

Shares of Energy Recovery stock traded down $0.26 during trading on Wednesday, hitting $8.14. The company’s stock had a trading volume of 1,511,436 shares, compared to its average volume of 621,780. Energy Recovery, Inc. has a 52 week low of $7.83 and a 52 week high of $18.32. The company has a market capitalization of $419.54 million, a PE ratio of 21.42 and a beta of 0.90. The company has a fifty day simple moving average of $8.60 and a two-hundred day simple moving average of $10.80.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ERII. Amundi boosted its holdings in Energy Recovery by 323.6% in the fourth quarter. Amundi now owns 2,851,691 shares of the industrial products company’s stock worth $38,457,000 after purchasing an additional 2,178,560 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in Energy Recovery during the 4th quarter valued at $5,086,000. State Street Corp lifted 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 valued at $23,803,000 after buying an additional 325,280 shares during the period. Legal & General Group Plc lifted its holdings in shares of Energy Recovery by 32.2% during the 3rd quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock valued at $20,165,000 after buying an additional 318,584 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Energy Recovery by 146.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company’s stock worth $5,871,000 after buying an additional 272,648 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ERII shares. Northcoast Research cut Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. 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 report on Wednesday, May 13th. Finally, Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

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.