Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $84,392.42 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the sale, the senior vice president now owns 106,367 shares in the company, valued at approximately $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rodney Clemente also recently made the following trade(s):

• On Thursday, November 7th, Rodney Clemente sold 19,618 shares of Energy Recovery stock. The stock was sold at an average price of $20.00, for a total value of $392,360.00.
• On Monday, October 28th, Rodney Clemente sold 6,505 shares of Energy Recovery stock. The stock was sold at an average price of $17.98, for a total value of $116,959.90.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $19.00 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 55.88 and a beta of 1.22. The stock’s 50 day simple moving average is $17.61 and its 200-day simple moving average is $15.61. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results 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. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. As a group, research analysts expect that Energy Recovery, Inc. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ERII. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Institutional Trading of Energy Recovery

Institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in shares of Energy Recovery by 391.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 62,287 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Energy Recovery in the first quarter valued at approximately $2,372,000. Federated Hermes Inc. purchased a new stake in Energy Recovery in the second quarter valued at approximately $472,000. Trillium Asset Management LLC purchased a new stake in Energy Recovery in the first quarter valued at approximately $3,774,000. Finally, Raymond James & Associates raised its position in Energy Recovery by 15.0% in the second quarter. Raymond James & Associates now owns 409,623 shares of the industrial products company’s stock valued at $5,444,000 after purchasing an additional 53,330 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

About Energy Recovery

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.