Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) Director Sells 30,000 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Arve Hanstveit sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total value of $380,400.00. Following the completion of the sale, the director now directly owns 655,220 shares in the company, valued at approximately $8,308,189.60. The trade was a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, June 11th, Arve Hanstveit sold 20,000 shares of Energy Recovery stock. The stock was sold at an average price of $12.75, for a total value of $255,000.00.

Energy Recovery Stock Performance

Shares of ERII traded down $0.21 during trading hours on Friday, hitting $12.36. The stock had a trading volume of 354,166 shares, compared to its average volume of 423,672. The firm has a market cap of $673.61 million, a P/E ratio of 36.35 and a beta of 1.02. The company's fifty day simple moving average is $13.68 and its 200 day simple moving average is $14.74. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $8.07 million during the quarter, compared to analysts' expectations of $21.97 million. During the same period last year, the business earned ($0.08) earnings per share. The company's revenue for the quarter was down 33.1% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in Energy Recovery by 7.5% in the first quarter. Rhumbline Advisers now owns 83,125 shares of the industrial products company's stock valued at $1,321,000 after purchasing an additional 5,781 shares during the period. Jane Street Group LLC raised its position in Energy Recovery by 54.4% in the first quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company's stock valued at $1,944,000 after purchasing an additional 43,089 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Energy Recovery by 10.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company's stock worth $3,274,000 after acquiring an additional 19,992 shares during the last quarter. Select Equity Group L.P. increased its position in shares of Energy Recovery by 403.5% during the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock worth $10,601,000 after acquiring an additional 534,662 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Energy Recovery by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company's stock worth $714,000 after acquiring an additional 3,185 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ERII has been the topic of a number of recent analyst reports. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $20.00 to $12.50 in a research note on Thursday, May 8th. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Energy Recovery currently has a consensus rating of "Buy" and an average target price of $18.88.

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.