Energy Recovery (ERII) to Release Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) is set to post its quarterly earnings results after the market closes on Wednesday, July 31st. Analysts expect Energy Recovery to post earnings of ($0.02) per share for the quarter. Energy Recovery has set its FY 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The company had revenue of $12.09 million during the quarter, compared to analyst estimates of $12.49 million. On average, analysts expect Energy Recovery to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Energy Recovery Trading Down 3.2 %

Shares of ERII opened at $14.43 on Tuesday. The business’s fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $14.55. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $30.70. The company has a market cap of $827.27 million, a price-to-earnings ratio of 42.44 and a beta of 1.24.

Analysts Set New Price Targets

ERII has been the topic of several recent research reports. StockNews.com cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 9th.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $13.20, for a total value of $264,000.00. Following the completion of the transaction, the director now owns 763,182 shares of the company’s stock, valued at approximately $10,074,002.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO David W. Moon purchased 10,500 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was acquired at an average price of $13.46 per share, for a total transaction of $141,330.00. Following the acquisition, the chief executive officer now directly owns 29,750 shares of the company’s stock, valued at approximately $400,435. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $13.20, for a total value of $264,000.00. Following the transaction, the director now owns 763,182 shares of the company’s stock, valued at approximately $10,074,002.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,096 shares of company stock valued at $1,084,084. 4.10% of the stock is owned by corporate insiders.

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.