Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) Director Sells $817,000.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Energy Recovery Stock Up 2.4 %

Shares of NASDAQ ERII opened at $16.38 on Friday. The firm’s 50-day moving average price is $14.97 and its two-hundred day moving average price is $16.15. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The stock has a market capitalization of $900.16 million, a P/E ratio of 48.18 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) 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%. The business had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Energy Recovery

Several large investors have recently made changes to their positions in ERII. Avanza Fonder AB acquired a new stake in shares of Energy Recovery in the fourth quarter valued at approximately $107,000. Schroder Investment Management Group acquired a new stake in shares of Energy Recovery in the fourth quarter valued at approximately $160,000. Nebula Research & Development LLC increased its stake in shares of Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares during the period. Polymer Capital Management US LLC acquired a new stake in shares of Energy Recovery in the fourth quarter valued at approximately $211,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Energy Recovery in the fourth quarter valued at approximately $229,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ERII. B. Riley reduced their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Evercore ISI reduced their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Scotiabank began coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average 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.