Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells 19,618 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 19,618 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.00, for a total value of $392,360.00. Following the completion of the sale, the senior vice president now owns 114,205 shares in the company, valued at $2,284,100. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rodney Clemente also recently made the following trade(s):

• On Monday, November 11th, Rodney Clemente sold 4,207 shares of Energy Recovery stock. The stock was sold at an average price of $20.06, for a total value of $84,392.42.
• On Monday, October 28th, Rodney Clemente sold 6,505 shares of Energy Recovery stock. The stock was sold at an average price of $17.98, for a total value of $116,959.90.

Energy Recovery Stock Performance

Shares of ERII traded down $0.50 during trading hours on Tuesday, reaching $19.43. The stock had a trading volume of 255,414 shares, compared to its average volume of 410,482. The company’s 50-day moving average is $17.48 and its two-hundred day moving average is $15.55. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The stock has a market capitalization of $1.12 billion, a PE ratio of 57.35 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. During the same period in the previous year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Hedge Funds Weigh In On Energy Recovery

Institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. acquired a new position in Energy Recovery in the 2nd quarter worth $26,000. CWM LLC lifted its position in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 4,177 shares in the last quarter. Sentry Investment Management LLC increased its holdings in shares of Energy Recovery by 23.2% in the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,438 shares during the last quarter. AXA S.A. acquired a new stake in Energy Recovery during the second quarter worth about $149,000. Finally, ProShare Advisors LLC bought a new position in Energy Recovery in the 1st quarter valued at approximately $158,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

About Energy Recovery

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.