Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $84,392.42 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 4,207 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the transaction, the senior vice president now directly owns 106,367 shares in the company, valued at approximately $2,133,722.02. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rodney Clemente also recently made the following trade(s):

• On Thursday, November 7th, Rodney Clemente sold 19,618 shares of Energy Recovery stock. The stock was sold at an average price of $20.00, for a total value of $392,360.00.
• On Monday, October 28th, Rodney Clemente sold 6,505 shares of Energy Recovery stock. The stock was sold at an average price of $17.98, for a total value of $116,959.90.

Energy Recovery Price Performance

Shares of ERII stock opened at $19.00 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 55.88 and a beta of 1.22. The business has a fifty day moving average of $17.61 and a 200 day moving average of $15.61. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Energy Recovery

Institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Energy Recovery by 391.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock valued at $1,235,000 after purchasing an additional 62,287 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Energy Recovery in the 1st quarter valued at about $2,372,000. Federated Hermes Inc. purchased a new position in shares of Energy Recovery in the 2nd quarter valued at about $472,000. Trillium Asset Management LLC purchased a new position in shares of Energy Recovery in the 1st quarter valued at about $3,774,000. Finally, Raymond James & Associates increased its stake in shares of Energy Recovery by 15.0% in the 2nd quarter. Raymond James & Associates now owns 409,623 shares of the industrial products company’s stock valued at $5,444,000 after purchasing an additional 53,330 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

ERII has been the topic of several recent research reports. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

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.