Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.75, for a total value of $255,000.00. Following the transaction, the director now owns 685,220 shares of the company's stock, valued at approximately $8,736,555. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Arve Hanstveit also recently made the following trade(s):
- On Thursday, June 12th, Arve Hanstveit sold 30,000 shares of Energy Recovery stock. The shares were sold at an average price of $12.68, for a total value of $380,400.00.
Energy Recovery Stock Performance
Shares of NASDAQ:ERII traded up $0.07 during trading on Monday, reaching $12.43. The stock had a trading volume of 375,065 shares, compared to its average volume of 423,477. The business has a fifty day moving average price of $13.64 and a 200-day moving average price of $14.72. The stock has a market cap of $677.42 million, a PE ratio of 36.56 and a beta of 1.02. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business's revenue was down 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. Sell-side analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have commented on the company. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Finally, Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Energy Recovery currently has an average rating of "Buy" and an average target price of $18.88.
Read Our Latest Stock Report on ERII
Institutional Trading of Energy Recovery
Institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in Energy Recovery by 3.7% in the 1st quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company's stock valued at $81,657,000 after buying an additional 184,942 shares in the last quarter. Vanguard Group Inc. grew its holdings in Energy Recovery by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock valued at $55,534,000 after buying an additional 242,494 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Energy Recovery by 27.8% in the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock valued at $16,462,000 after buying an additional 243,653 shares in the last quarter. Invesco Ltd. grew its holdings in Energy Recovery by 14.4% in the 4th quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company's stock valued at $12,617,000 after buying an additional 107,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Energy Recovery by 13.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 768,091 shares of the industrial products company's stock valued at $11,291,000 after buying an additional 89,248 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.
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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