Energy Recovery (NASDAQ:ERII) SVP Sells $46,112.72 in Stock

Key Points

• Energy Recovery SVP Rodney Clemente sold 5,387 shares at an average price of $8.56, generating $46,112.72 and reducing his holdings by 4.74% to 108,301 shares.
• ERII shares fell to $8.14, near their 12-month low of $7.83, while the company’s latest quarterly loss of $0.23 per share missed analyst expectations despite revenue exceeding estimates.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $15.00 target price; institutional investors own 83.58% of the company’s stock.

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) SVP Rodney Clemente sold 5,387 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the sale, the senior vice president owned 108,301 shares of the company's stock, valued at $927,056.56. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Energy Recovery Price Performance

NASDAQ ERII traded down $0.26 on Wednesday, reaching $8.14. 1,511,436 shares of the company's stock traded hands, compared to its average volume of 621,780. Energy Recovery, Inc. has a 12 month low of $7.83 and a 12 month high of $18.32. The stock has a 50-day simple moving average of $8.60 and a 200 day simple moving average of $10.80. The stock has a market cap of $419.54 million, a PE ratio of 21.42 and a beta of 0.90.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $9.71 million during the quarter, compared to the consensus estimate of $8.37 million. As a group, analysts anticipate that Energy Recovery, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ERII. Wall Street Zen cut Energy Recovery from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Northcoast Research lowered Energy Recovery from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 15th. Freedom Capital cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Seaport Research Partners restated a "buy" rating and set a $12.00 price target on shares of Energy Recovery in a research report on Wednesday, May 13th. Finally, Weiss Ratings cut Energy Recovery from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Energy Recovery has a consensus rating of "Hold" and a consensus target price of $15.00.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently bought and sold shares of the stock. Wexford Capital LP bought a new stake in Energy Recovery during the 3rd quarter valued at approximately $27,000. Parallel Advisors LLC bought a new position in shares of Energy Recovery in the 4th quarter worth approximately $38,000. Group One Trading LLC purchased a new position in shares of Energy Recovery in the 1st quarter valued at approximately $41,000. Comerica Bank lifted its stake in shares of Energy Recovery by 150.5% in the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Energy Recovery by 172.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 3,803 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

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.

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