Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Arve Hanstveit sold 20,000 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Energy Recovery Stock Down 0.6 %
ERII stock opened at $16.09 on Wednesday. The stock has a 50-day simple moving average of $17.47 and a two-hundred day simple moving average of $16.01. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a market capitalization of $931.51 million, a PE ratio of 47.32 and a beta of 1.18.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $38.60 million during the quarter, compared to analysts' expectations of $37.37 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. Energy Recovery's revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Energy Recovery, Inc. will post 0.39 EPS for the current fiscal year.
Institutional Investors Weigh In On Energy Recovery
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Energy Recovery by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company's stock worth $294,000 after acquiring an additional 1,330 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company's stock worth $307,000 after purchasing an additional 1,433 shares during the last quarter. Rhumbline Advisers raised its stake in Energy Recovery by 2.0% in the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company's stock valued at $1,270,000 after purchasing an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Energy Recovery in the 2nd quarter worth approximately $26,000. Finally, AQR Capital Management LLC grew its stake in Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock worth $159,000 after buying an additional 1,986 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.
Wall Street Analyst Weigh In
ERII has been the subject of several analyst reports. Fearnley Fonds lowered shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Evercore ISI lowered their target price on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. B. Riley lowered their price objective on Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. Finally, Scotiabank initiated coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a "buy" rating and a $22.00 target price for the company. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Energy Recovery has an average rating of "Buy" and a consensus target price of $20.75.
Get Our Latest Stock Analysis on Energy Recovery
About Energy Recovery
(
Get Free Report)
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.
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