Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $330,666.48 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Energy Recovery Stock Performance

Energy Recovery stock opened at $14.68 on Thursday. The firm has a market cap of $849.88 million, a P/E ratio of 43.18 and a beta of 1.18. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The firm has a 50-day moving average of $14.78 and a 200-day moving average of $16.30.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ERII shares. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. B. Riley decreased their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Evercore ISI lowered their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Energy Recovery currently has an average rating of “Buy” and an average target price of $20.75.

Institutional Trading of Energy Recovery

Several large investors have recently added to or reduced their stakes in ERII. CWM LLC raised its holdings in Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 4,177 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of Energy Recovery during the fourth quarter valued at about $107,000. Schroder Investment Management Group purchased a new position in shares of Energy Recovery during the fourth quarter valued at about $160,000. Nebula Research & Development LLC raised its stake in Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after buying an additional 687 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in Energy Recovery in the third quarter worth about $193,000. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

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.