Energy Recovery (NASDAQ:ERII) Director Pamela Tondreau Acquires 20,000 Shares

Energy Recovery, Inc. (NASDAQ:ERII) Director Pamela Tondreau acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $8.34 per share, with a total value of $166,800.00. Following the acquisition, the director owned 37,362 shares in the company, valued at $311,599.08. The trade was a 115.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Energy Recovery Stock Down 2.4%

ERII traded down $0.21 during trading hours on Friday, hitting $8.41. The stock had a trading volume of 1,245,506 shares, compared to its average volume of 827,385. The company’s fifty day simple moving average is $10.34 and its 200 day simple moving average is $13.09. Energy Recovery, Inc. has a 1 year low of $8.14 and a 1 year high of $18.32. The stock has a market cap of $433.45 million, a PE ratio of 22.13 and a beta of 1.04.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The firm had revenue of $9.71 million during the quarter, compared to analysts’ expectations of $8.37 million. As a group, equities analysts expect that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Seaport Research Partners restated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a research note on Wednesday. Weiss Ratings downgraded Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday. Loop Capital set a $13.00 target price on Energy Recovery in a research note on Monday, March 2nd. Finally, Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

Institutional Trading of Energy Recovery

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in Energy Recovery by 4.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,984 shares of the industrial products company’s stock worth $218,000 after buying an additional 613 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Energy Recovery by 2.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 36,649 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 914 shares during the last quarter. S&CO Inc. increased its stake in shares of Energy Recovery by 9.1% during the third quarter. S&CO Inc. now owns 12,000 shares of the industrial products company’s stock valued at $185,000 after buying an additional 1,000 shares during the period. Aviva PLC increased its stake in shares of Energy Recovery by 4.9% during the fourth quarter. Aviva PLC now owns 33,974 shares of the industrial products company’s stock valued at $458,000 after buying an additional 1,599 shares during the period. Finally, Wexford Capital LP purchased a new position in shares of Energy Recovery during the third quarter valued at approximately $27,000. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.