Pamela Tondreau Purchases 20,000 Shares of Energy Recovery (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Pamela Tondreau purchased 20,000 shares of Energy Recovery stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $8.34 per share, with a total value of $166,800.00. Following the acquisition, the director directly owned 37,362 shares of the company’s stock, valued at approximately $311,599.08. This trade represents a 115.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Energy Recovery Stock Down 2.4%

Shares of NASDAQ:ERII opened at $8.41 on Friday. The firm has a market cap of $433.45 million, a price-to-earnings ratio of 22.13 and a beta of 1.04. Energy Recovery, Inc. has a 12 month low of $8.14 and a 12 month high of $18.32. The company’s fifty day simple moving average is $10.30 and its 200 day simple moving average is $13.06.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Loop Capital set a $13.00 price target on Energy Recovery in a research note on Monday, March 2nd. Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Seaport Research Partners reissued a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a research report on Wednesday. Finally, Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Energy Recovery has a consensus rating of “Hold” and an average target price of $15.00.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in Energy Recovery by 54.7% during the first quarter. Lazard Asset Management LLC now owns 67,429 shares of the industrial products company’s stock worth $679,000 after buying an additional 23,838 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Energy Recovery by 40.1% during the first quarter. Renaissance Technologies LLC now owns 144,265 shares of the industrial products company’s stock worth $1,453,000 after buying an additional 41,280 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Energy Recovery by 47.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock worth $5,177,000 after buying an additional 165,915 shares during the last quarter. Caxton Associates LLP increased its holdings in Energy Recovery by 37.2% during the first quarter. Caxton Associates LLP now owns 25,731 shares of the industrial products company’s stock worth $259,000 after buying an additional 6,979 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Energy Recovery during the first quarter worth $522,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.