Energy Recovery, Inc. (NASDAQ:ERII) Short Interest Update

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 2,370,000 shares, a drop of 5.6% from the March 31st total of 2,510,000 shares. Approximately 4.3% of the company's shares are short sold. Based on an average daily trading volume, of 441,700 shares, the days-to-cover ratio is presently 5.4 days.

Wall Street Analyst Weigh In

Separately, Evercore ISI dropped their price target on Energy Recovery from $26.00 to $24.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th.

Energy Recovery Stock Up 0.3 %

Shares of ERII traded up $0.04 during trading hours on Tuesday, reaching $14.90. 396,958 shares of the company traded hands, compared to its average volume of 447,214. The stock has a market capitalization of $854.22 million, a PE ratio of 40.16 and a beta of 1.27. Energy Recovery has a fifty-two week low of $13.41 and a fifty-two week high of $30.76. The stock has a fifty day simple moving average of $14.91 and a 200 day simple moving average of $16.67.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $57.19 million for the quarter, compared to analyst estimates of $63.57 million. Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. The firm's revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. Research analysts predict that Energy Recovery will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Energy Recovery news, CEO David W. Moon bought 10,750 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $15.51 per share, with a total value of $166,732.50. Following the completion of the purchase, the chief executive officer now directly owns 19,250 shares in the company, valued at $298,567.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Energy Recovery news, Director Robert Yu Lang Mao sold 38,025 shares of Energy Recovery stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.21, for a total transaction of $616,385.25. Following the completion of the sale, the director now directly owns 176,112 shares of the company's stock, valued at approximately $2,854,775.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Moon bought 10,750 shares of Energy Recovery stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $15.51 per share, with a total value of $166,732.50. Following the completion of the acquisition, the chief executive officer now directly owns 19,250 shares in the company, valued at approximately $298,567.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 93,913 shares of company stock worth $1,478,808. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of Energy Recovery

A number of hedge funds have recently added to or reduced their stakes in ERII. Millburn Ridgefield Corp acquired a new stake in Energy Recovery in the 3rd quarter worth about $29,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Energy Recovery during the 3rd quarter valued at about $29,000. Clear Street Markets LLC purchased a new stake in Energy Recovery during the 3rd quarter worth approximately $33,000. Sentry Investment Management LLC purchased a new stake in Energy Recovery during the 4th quarter worth approximately $117,000. Finally, Clear Creek Financial Management LLC purchased a new stake in Energy Recovery during the 1st quarter worth approximately $244,000. 83.58% of the stock is owned by institutional investors and hedge funds.

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.