Energy Recovery, Inc. (NASDAQ:ERII) Director Acquires $51,576.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Pamela L. Tondreau bought 4,200 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $12.28 per share, with a total value of $51,576.00. Following the transaction, the director now directly owns 41,043 shares of the company’s stock, valued at approximately $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Energy Recovery Trading Up 7.2%

Shares of Energy Recovery stock opened at $13.16 on Friday. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The company has a market cap of $717.21 million, a price-to-earnings ratio of 38.71 and a beta of 1.09. The company’s 50-day moving average price is $14.99 and its 200-day moving average price is $15.44.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The company had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $21.97 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company’s revenue for the quarter was down 33.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. On average, sell-side analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ERII has been the subject of a number of research reports. StockNews.com lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. B. Riley lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $12.50 in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Energy Recovery has a consensus rating of “Moderate Buy” and an average price target of $18.88.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nebula Research & Development LLC raised its stake in Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 830 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in shares of Energy Recovery by 5.9% during the first quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 850 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Energy Recovery by 2.9% during the fourth quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company’s stock worth $550,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Energy Recovery by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock worth $1,440,000 after acquiring an additional 1,808 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Company Profile

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.