Energy Recovery (NASDAQ:ERII) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Energy Recovery (NASDAQ:ERIIGet Free Report) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01, Briefing.com reports. 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 15.40% and a return on equity of 9.88%. Energy Recovery’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share.

Energy Recovery Price Performance

Shares of ERII stock traded up $0.02 during trading hours on Thursday, hitting $17.88. The company had a trading volume of 190,272 shares, compared to its average volume of 408,347. The stock has a market capitalization of $1.03 billion, a PE ratio of 52.53 and a beta of 1.23. The company’s fifty day moving average is $17.16 and its 200 day moving average is $15.24. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $19.94.

Insider Activity at Energy Recovery

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David W. Moon purchased 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the acquisition, the chief executive officer now owns 32,750 shares in the company, valued at $524,000. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 19,581 shares of company stock worth $351,936. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

ERII has been the topic of a number of analyst reports. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James upgraded Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, July 9th.

View Our Latest Report on ERII

About Energy Recovery

(Get Free Report)

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.

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Earnings History for Energy Recovery (NASDAQ:ERII)

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