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

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 business's stock in a transaction 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 sale, the senior vice president directly owned 100,765 shares in the company, valued at approximately $1,407,687.05. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Energy Recovery Trading Down 4.9%

NASDAQ ERII traded down $0.66 on Friday, reaching $12.79. The stock had a trading volume of 565,932 shares, compared to its average volume of 367,916. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $20.27. The business has a 50 day moving average price of $12.88 and a 200 day moving average price of $14.18. The company has a market capitalization of $697.06 million, a price-to-earnings ratio of 34.57 and a beta of 1.03.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results 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 net margin of 15.21% and a return on equity of 9.96%. The firm had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The firm's quarterly revenue was down 33.1% compared to the same quarter last year. On average, analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERII has been the topic of several recent analyst reports. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. B. Riley lowered shares of 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 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 equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $18.17.

Institutional Trading of Energy Recovery

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Energy Recovery by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company's stock valued at $47,810,000 after purchasing an additional 43,290 shares in the last quarter. DnB Asset Management AS increased its position in Energy Recovery by 2.9% during the fourth quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock worth $550,000 after buying an additional 1,050 shares during the last quarter. Schroder Investment Management Group bought a new position in Energy Recovery during the fourth quarter valued at about $160,000. Franklin Resources Inc. acquired a new stake in shares of Energy Recovery in the fourth quarter worth about $459,000. Finally, Trexquant Investment LP acquired a new stake in shares of Energy Recovery in the fourth quarter worth about $1,792,000. 83.58% of the stock is owned by institutional investors.

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.