Energy Recovery (NASDAQ:ERII) Releases Earnings Results, Beats Expectations By $0.01 EPS

Energy Recovery (NASDAQ:ERII) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01, Briefing.com reports. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year.

Energy Recovery Stock Up 0.4 %

Energy Recovery stock traded up $0.07 during midday trading on Thursday, reaching $17.93. The company’s stock had a trading volume of 371,612 shares, compared to its average volume of 409,206. The business has a 50-day simple moving average of $17.16 and a 200-day simple moving average of $15.24. The company has a market cap of $1.03 billion, a P/E ratio of 52.53 and a beta of 1.23. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $19.94.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, the senior vice president now owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now owns 87,101 shares in the company, valued at $1,565,204.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,581 shares of company stock worth $351,936. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on ERII shares. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

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.