Rodney Clemente Sells 6,505 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the sale, the senior vice president now owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Energy Recovery Price Performance

Shares of NASDAQ:ERII traded up $0.28 during trading hours on Wednesday, hitting $17.86. The company’s stock had a trading volume of 306,283 shares, compared to its average volume of 409,385. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23. The firm’s fifty day moving average price is $17.17 and its 200 day moving average price is $15.22. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $19.94.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.10. The firm had revenue of $27.20 million during the quarter, compared to analyst estimates of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. On average, equities research analysts predict that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ERII has been the subject of several recent research reports. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Tuesday, July 9th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ERII. Mission Wealth Management LP bought a new position in shares of Energy Recovery during the 1st quarter worth approximately $703,000. BNP Paribas Financial Markets raised its stake in shares of Energy Recovery by 28.3% during the 1st quarter. BNP Paribas Financial Markets now owns 99,064 shares of the industrial products company’s stock worth $1,564,000 after acquiring an additional 21,840 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Energy Recovery during the 1st quarter worth approximately $436,000. Redmond Asset Management LLC grew its position in Energy Recovery by 9.0% during the 1st quarter. Redmond Asset Management LLC now owns 169,663 shares of the industrial products company’s stock worth $2,679,000 after purchasing an additional 13,969 shares during the last quarter. Finally, Inspire Investing LLC grew its position in Energy Recovery by 11.8% during the 1st quarter. Inspire Investing LLC now owns 22,954 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 2,418 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.