Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 45,708 shares of Energy Recovery stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $9.15, for a total transaction of $418,228.20. Following the completion of the transaction, the director now directly owns 1,113,945 shares of the company’s stock, valued at approximately $10,192,596.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of ERII traded down $0.32 during midday trading on Friday, hitting $8.85. 157,904 shares of the stock traded hands, compared to its average volume of 299,393. Energy Recovery, Inc. has a 1-year low of $6.17 and a 1-year high of $11.30. The company has a market cap of $497.69 million, a price-to-earnings ratio of 126.43 and a beta of 5.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.99 and a current ratio of 4.22.
Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Friday, November 2nd. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Energy Recovery had a net margin of 48.60% and a return on equity of 12.63%. The company had revenue of $22.20 million during the quarter, compared to the consensus estimate of $20.63 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Analysts predict that Energy Recovery, Inc. will post 0.19 EPS for the current year.
A number of research firms have commented on ERII. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday. BidaskClub raised shares of Energy Recovery from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Finally, TheStreet raised shares of Energy Recovery from a “c” rating to a “b-” rating in a report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $14.25.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Energy Recovery by 0.9% during the third quarter. BlackRock Inc. now owns 2,479,926 shares of the industrial products company’s stock valued at $22,197,000 after acquiring an additional 21,746 shares during the period. First Trust Advisors LP boosted its holdings in shares of Energy Recovery by 2.5% during the second quarter. First Trust Advisors LP now owns 563,416 shares of the industrial products company’s stock valued at $4,552,000 after acquiring an additional 13,858 shares during the period. Trigran Investments Inc. acquired a new position in shares of Energy Recovery during the second quarter valued at $2,292,000. Cadence Capital Management LLC boosted its holdings in shares of Energy Recovery by 20.0% during the third quarter. Cadence Capital Management LLC now owns 264,270 shares of the industrial products company’s stock valued at $2,365,000 after acquiring an additional 44,094 shares during the period. Finally, SCP Investment LP lifted its holdings in Energy Recovery by 24.3% in the second quarter. SCP Investment LP now owns 248,600 shares of the industrial products company’s stock worth $2,009,000 after purchasing an additional 48,600 shares during the period. 36.99% of the stock is owned by institutional investors.
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About Energy Recovery
Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.
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