Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit Sells 30,000 Shares

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Arve Hanstveit sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $380,400.00. Following the completion of the transaction, the director now owns 655,220 shares in the company, valued at $8,308,189.60. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $12.75, for a total transaction of $255,000.00.

Energy Recovery Stock Up 0.6%

Shares of ERII traded up $0.07 during trading hours on Monday, reaching $12.43. The stock had a trading volume of 375,065 shares, compared to its average volume of 423,477. The firm has a 50-day moving average of $13.64 and a 200 day moving average of $14.72. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The company has a market cap of $677.42 million, a P/E ratio of 36.56 and a beta of 1.02.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Energy Recovery

Several large investors have recently made changes to their positions in ERII. Ameriprise Financial Inc. increased its position in shares of Energy Recovery by 24.6% during the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock worth $72,823,000 after acquiring an additional 978,490 shares in 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Energy Recovery during the fourth quarter worth $5,741,000. KLP Kapitalforvaltning AS bought a new stake in shares of Energy Recovery during the fourth quarter worth $4,670,000. Finally, Duff & Phelps Investment Management Co. bought a new position in Energy Recovery in the fourth quarter valued at $3,798,000. Institutional investors own 83.58% of the company's stock.

Energy Recovery Company Profile

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.