Arve Hanstveit Sells 50,000 Shares of Energy Recovery, Inc. (NASDAQ:ERII) 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 value of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Energy Recovery Trading Up 2.4 %

NASDAQ ERII opened at $16.38 on Friday. The company has a market cap of $900.16 million, a PE ratio of 48.18 and a beta of 1.21. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The stock has a 50 day moving average of $14.97 and a 200-day moving average of $16.16.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently bought and sold shares of 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 bought a new stake in Energy Recovery in the 4th quarter valued at $160,000. Nebula Research & Development LLC raised its stake in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 687 shares during the period. Polymer Capital Management US LLC acquired a new stake in Energy Recovery during the 4th quarter valued at $211,000. Finally, Two Sigma Investments LP bought a new position in Energy Recovery during the fourth quarter worth $229,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ERII shares. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. B. Riley lowered their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 target price for the company. Finally, Evercore ISI lowered 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 note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.