Rodney Clemente Sells 5,387 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Key Points

• Rodney Clemente, SVP of Energy Recovery, sold 5,387 shares of the company at an average price of $13.97, decreasing his ownership by 5.07% to 100,765 shares, valued at approximately $1.4 million.
• Energy Recovery reported a 33.1% decline in quarterly revenue compared to the previous year, with an EPS of ($0.13), missing analysts' expectations.
• Brokerage reports show divergent views, with B. Riley lowering its rating and price target, while others upgraded Energy Recovery to a "strong buy".

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) SVP Rodney Clemente sold 5,387 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the completion of the transaction, the senior vice president directly owned 100,765 shares of the company's stock, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Energy Recovery Trading Down 0.4%

Shares of NASDAQ ERII traded down $0.05 during mid-day trading on Tuesday, reaching $13.67. The company had a trading volume of 620,632 shares, compared to its average volume of 420,504. The firm has a 50 day simple moving average of $12.83 and a two-hundred day simple moving average of $14.20. The stock has a market cap of $745.02 million, a P/E ratio of 36.95 and a beta of 1.01. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (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 9.96% and a net margin of 15.21%. The company's quarterly revenue was down 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. On average, equities analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds have recently modified their holdings of the business. Trust Co. of Toledo NA OH purchased a new stake in Energy Recovery in the 2nd quarter valued at $37,000. Russell Investments Group Ltd. boosted its stake in shares of Energy Recovery by 5,662.3% during the first quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock worth $138,000 after buying an additional 8,550 shares during the period. Schroder Investment Management Group purchased a new position in shares of Energy Recovery during the fourth quarter worth about $160,000. American Century Companies Inc. purchased a new position in shares of Energy Recovery during the first quarter worth about $162,000. Finally, Nebula Research & Development LLC raised its stake in Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after acquiring an additional 687 shares during the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ERII. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $18.17.

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.

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