Energy Recovery, Inc. (NASDAQ:ERII) CEO Sells $45,823.50 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon sold 2,550 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Energy Recovery Trading Up 3.8 %

Shares of NASDAQ:ERII opened at $18.53 on Friday. The stock’s 50-day moving average price is $17.16 and its two-hundred day moving average price is $15.26. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $19.94. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 54.50 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 9.07% and a net margin of 14.35%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. As a group, research analysts forecast that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

ERII has been the subject of a number of research analyst reports. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James raised 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.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds have recently modified their holdings of ERII. State Board of Administration of Florida Retirement System increased its holdings in Energy Recovery by 391.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock worth $1,235,000 after purchasing an additional 62,287 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Energy Recovery in the 1st quarter worth approximately $2,372,000. Federated Hermes Inc. acquired a new position in shares of Energy Recovery in the 2nd quarter worth approximately $472,000. Trillium Asset Management LLC acquired a new position in shares of Energy Recovery in the 1st quarter worth approximately $3,774,000. Finally, Raymond James & Associates grew its position 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 worth $5,444,000 after acquiring an additional 53,330 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.