Arve Hanstveit Sells 50,000 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 50,000 shares of the firm’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 transaction of $817,000.00. Following the transaction, the director now owns 693,182 shares in the company, valued at $11,326,593.88. This represents a 6.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Energy Recovery Stock Performance

Energy Recovery stock opened at $16.38 on Friday. The firm has a market cap of $900.16 million, a price-to-earnings ratio of 48.18 and a beta of 1.21. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The firm’s 50 day moving average price is $14.97 and its two-hundred day moving average price is $16.15.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) 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%. The business had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. B. Riley lowered their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Scotiabank assumed coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Evercore ISI decreased their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.75.

Hedge Funds Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in Energy Recovery by 14.1% in the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after purchasing an additional 153,381 shares during the period. Geode Capital Management LLC boosted its stake in Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after purchasing an additional 56,306 shares during the period. Barclays PLC boosted its stake in Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 76,393 shares during the period. Baillie Gifford & Co. acquired a new position in Energy Recovery in the 3rd quarter worth approximately $15,237,000. Finally, JPMorgan Chase & Co. boosted its stake in Energy Recovery by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock worth $4,780,000 after purchasing an additional 109,847 shares during the period. Institutional investors and hedge funds 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.