Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit Sells 20,000 Shares

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Arve Hanstveit sold 20,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 685,220 shares in the company, valued at $8,736,555. The trade was a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arve Hanstveit also recently made the following trade(s):

• On Thursday, June 12th, Arve Hanstveit sold 30,000 shares of Energy Recovery stock. The stock was sold at an average price of $12.68, for a total transaction of $380,400.00.

Energy Recovery Stock Performance

Shares of ERII stock traded down $0.21 on Friday, hitting $12.36. 354,166 shares of the stock traded hands, compared to its average volume of 422,231. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The firm's 50-day moving average price is $13.71 and its two-hundred day moving average price is $14.77. The stock has a market capitalization of $673.61 million, a PE ratio of 36.35 and a beta of 1.02.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The firm had revenue of $8.07 million for the quarter, compared to analysts' expectations of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery's revenue for the quarter was down 33.1% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. On average, equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Energy Recovery has an average rating of "Buy" and a consensus target price of $18.88.

Institutional Trading of Energy Recovery

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in Energy Recovery by 99.0% during the fourth quarter. Bank of Montreal Can now owns 49,358 shares of the industrial products company's stock worth $726,000 after acquiring an additional 24,555 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock valued at $6,989,000 after purchasing an additional 6,834 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Energy Recovery by 9.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,275 shares of the industrial products company's stock worth $563,000 after purchasing an additional 3,364 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Energy Recovery during the 4th quarter worth $860,000. Finally, Keene & Associates Inc. increased its position in shares of Energy Recovery by 15.5% during the 4th quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company's stock worth $479,000 after purchasing an additional 4,375 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

About Energy Recovery

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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