Energy Recovery (NASDAQ:ERII) Shares Gap Up to $14.58

Shares of Energy Recovery, Inc. (NASDAQ:ERII) gapped up prior to trading on Thursday . The stock had previously closed at $14.58, but opened at $15.76. Energy Recovery shares last traded at $16.82, with a volume of 48,726 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ERII shares. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday. Raymond James upgraded Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Tuesday, July 9th.

Energy Recovery Stock Performance

The company’s 50 day simple moving average is $13.71 and its 200 day simple moving average is $14.54. The stock has a market cap of $940.26 million, a price-to-earnings ratio of 47.91 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $12.09 million for the quarter, compared to analyst estimates of $12.49 million. Sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling

In related news, insider William Yeung sold 2,012 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $29,435.56. Following the completion of the sale, the insider now directly owns 85,291 shares in the company, valued at $1,247,807.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider William Yeung sold 2,012 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the completion of the sale, the insider now directly owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rodney Clemente sold 2,353 shares of Energy Recovery stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $34,424.39. Following the completion of the transaction, the senior vice president now directly owns 140,328 shares in the company, valued at approximately $2,052,998.64. The disclosure for this sale can be found here. Insiders have sold 88,540 shares of company stock worth $1,207,620 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the second quarter valued at $26,000. Sentry Investment Management LLC purchased a new stake in Energy Recovery in the 4th quarter worth about $117,000. ProShare Advisors LLC acquired a new stake in Energy Recovery during the 1st quarter worth about $158,000. Lazard Asset Management LLC grew its stake in Energy Recovery by 39.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 3,076 shares in the last quarter. Finally, Clear Creek Financial Management LLC acquired a new position in shares of Energy Recovery in the 1st quarter valued at about $244,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.