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

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 2,048 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $17,530.88. Following the transaction, the insider directly owned 99,291 shares in the company, valued at $849,930.96. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Energy Recovery Stock Performance

Energy Recovery stock opened at $8.43 on Friday. Energy Recovery, Inc. has a twelve month low of $7.83 and a twelve month high of $18.32. The firm has a market cap of $434.48 million, a PE ratio of 22.18 and a beta of 0.90. The firm’s 50 day moving average price is $8.60 and its two-hundred day moving average price is $10.76.

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

Institutional Trading of Energy Recovery

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. S&CO Inc. raised its stake in shares of Energy Recovery by 8.3% in the 1st quarter. S&CO Inc. now owns 13,000 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 1,000 shares in the last quarter. Aviva PLC lifted its holdings in Energy Recovery by 4.9% in the 4th quarter. Aviva PLC now owns 33,974 shares of the industrial products company’s stock worth $458,000 after purchasing an additional 1,599 shares during the last quarter. Wexford Capital LP bought a new stake in Energy Recovery during the third quarter worth approximately $27,000. Cary Street Partners Financial LLC boosted its position in Energy Recovery by 3.7% during the fourth quarter. Cary Street Partners Financial LLC now owns 54,749 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 1,977 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Energy Recovery by 6.0% during the fourth quarter. Russell Investments Group Ltd. now owns 36,225 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 2,051 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

ERII has been the subject of several recent research reports. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Northcoast Research lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Seaport Research Partners reiterated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.