Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) CTO Sells 10,526 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CTO Farshad Ghasripoor sold 10,526 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the completion of the transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Energy Recovery Stock Performance

ERII stock opened at $17.86 on Thursday. The firm has a market cap of $1.02 billion, a PE ratio of 52.53 and a beta of 1.23. The firm has a fifty day moving average price of $17.17 and a 200 day moving average price of $15.22. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $19.94.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. The business had revenue of $27.20 million during 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, equities analysts predict that Energy Recovery, Inc. will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. 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 report on Tuesday, July 9th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Trillium Asset Management LLC purchased a new stake in Energy Recovery during the first quarter valued at approximately $3,774,000. Millennium Management LLC boosted its holdings in shares of Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after purchasing an additional 201,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Energy Recovery during the 1st quarter valued at approximately $2,372,000. Roubaix Capital LLC purchased a new stake in Energy Recovery during the 2nd quarter valued at $1,841,000. Finally, Exchange Traded Concepts LLC lifted its position in Energy Recovery by 668.4% in the third quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock worth $2,522,000 after buying an additional 126,148 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.