Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Energy Recovery Price Performance
Shares of NASDAQ ERII opened at $15.99 on Friday. The stock has a market capitalization of $878.73 million, a price-to-earnings ratio of 47.03 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 firm's 50 day simple moving average is $14.95 and its 200-day simple moving average is $16.17.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data 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). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on ERII shares. Evercore ISI dropped their target price on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 19th. B. Riley dropped their target price on Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, November 19th. Scotiabank started coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a "buy" rating and a $22.00 target price on the stock. Finally, Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $20.75.
View Our Latest Research Report on ERII
Institutional Investors Weigh In On Energy Recovery
A number of institutional investors have recently added to or reduced their stakes in ERII. Ameriprise Financial Inc. grew its stake in Energy Recovery by 24.6% in the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock valued at $72,823,000 after acquiring an additional 978,490 shares during the period. Baillie Gifford & Co. acquired a new stake in Energy Recovery in the 3rd quarter valued at $15,237,000. Alpha Wave Global LP grew its stake in Energy Recovery by 93.0% in the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company's stock valued at $20,374,000 after acquiring an additional 564,463 shares during the period. Raymond James Financial Inc. acquired a new stake in Energy Recovery in the 4th quarter valued at $5,741,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Energy Recovery in the 4th quarter valued at $4,670,000. Institutional investors and hedge funds own 83.58% of the company's stock.
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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