Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente Sells 6,505 Shares

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now directly owns 133,823 shares in the company, valued at approximately $2,406,137.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Energy Recovery Trading Up 1.6 %

Shares of ERII stock traded up $0.28 during trading hours on Wednesday, hitting $17.86. The company’s stock had a trading volume of 306,283 shares, compared to its average volume of 409,385. The company has a 50 day moving average of $17.17 and a 200 day moving average of $15.22. The stock has a market cap of $1.02 billion, a PE ratio of 52.53 and a beta of 1.23. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $19.94.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. The business had revenue of $27.20 million for the quarter, compared to the consensus estimate of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. As a group, analysts anticipate that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Raymond James raised shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Tuesday, July 9th. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Institutional Trading of Energy Recovery

Several large investors have recently made changes to their positions in ERII. Hantz Financial Services Inc. acquired a new position in shares of Energy Recovery in the 2nd quarter valued at $26,000. CWM LLC lifted its stake in shares of Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 4,177 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,438 shares during the period. ProShare Advisors LLC acquired a new position in shares of Energy Recovery in the 1st quarter valued at $158,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Energy Recovery in the 3rd quarter valued at $193,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

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.