Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $330,666.48 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Energy Recovery Stock Performance

Energy Recovery stock opened at $14.68 on Thursday. The stock has a market cap of $849.88 million, a P/E ratio of 43.18 and a beta of 1.18. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The firm’s fifty day moving average price is $14.78 and its 200-day moving average price is $16.30.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Sell-side analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Energy Recovery by 4.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company’s stock worth $2,735,000 after buying an additional 8,076 shares during the last quarter. Two Sigma Investments LP purchased a new position in Energy Recovery in the fourth quarter worth $229,000. State of Wyoming increased its stake in Energy Recovery by 13.2% in the fourth quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 2,699 shares during the last quarter. Select Equity Group L.P. raised its position in Energy Recovery by 9.4% during the fourth quarter. Select Equity Group L.P. now owns 132,495 shares of the industrial products company’s stock valued at $1,948,000 after purchasing an additional 11,351 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in Energy Recovery by 45.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock worth $7,308,000 after purchasing an additional 156,184 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. B. Riley cut their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Evercore ISI dropped their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Energy Recovery currently has a consensus rating of “Buy” and a consensus target price of $20.75.

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.