Energy Recovery (NASDAQ:ERII) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Energy Recovery (NASDAQ:ERII) released its quarterly earnings results on Wednesday. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01, Briefing.com reports. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis.

Energy Recovery Price Performance

NASDAQ:ERII remained flat at $17.86 during trading hours on Thursday. The company had a trading volume of 551,606 shares, compared to its average volume of 410,059. The stock has a market capitalization of $1.02 billion, a P/E ratio of 52.53 and a beta of 1.23. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $19.94. The stock has a fifty day simple moving average of $17.16 and a two-hundred day simple moving average of $15.24.

Analysts Set New Price Targets

A number of equities analysts have commented on ERII shares. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, July 9th.

Insider Activity at Energy Recovery

In other news, CEO David W. Moon acquired 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO David W. Moon acquired 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares in the company, valued at $524,000. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Farshad Ghasripoor sold 10,526 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $189,152.22. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 19,581 shares of company stock valued at $351,936 in the last quarter. Insiders own 4.10% of the company’s stock.

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.