Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) CEO Sells 2,550 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Energy Recovery Stock Up 1.6 %

Shares of ERII stock traded up $0.28 on Wednesday, reaching $17.86. The stock had a trading volume of 306,283 shares, compared to its average volume of 409,385. The firm’s 50-day moving average is $17.17 and its two-hundred day moving average is $15.22. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $19.94.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The company had revenue of $27.20 million for the quarter, compared to analysts’ expectations of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. On average, sell-side analysts forecast that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently modified their holdings of ERII. Vanguard Group Inc. grew its stake in Energy Recovery by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock valued at $47,519,000 after buying an additional 53,720 shares during the last quarter. Raymond James & Associates grew its stake in Energy Recovery by 10.1% in the 3rd quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock valued at $7,841,000 after buying an additional 41,286 shares during the last quarter. Anchor Capital Management Company LLC grew its stake in Energy Recovery by 18.2% in the 2nd quarter. Anchor Capital Management Company LLC now owns 420,081 shares of the industrial products company’s stock valued at $5,583,000 after buying an additional 64,581 shares during the last quarter. Millennium Management LLC grew its stake in Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after buying an additional 201,770 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Energy Recovery by 82.3% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock valued at $3,640,000 after buying an additional 123,664 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on ERII shares. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James raised 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 report on Tuesday, July 9th.

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.