Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) CEO Sells 2,550 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Energy Recovery Trading Up 1.6 %

Shares of NASDAQ ERII opened at $17.86 on Thursday. The stock has a 50-day moving average price of $17.17 and a two-hundred day moving average price of $15.22. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $19.94. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. The business had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.36 million. On average, sell-side analysts predict that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC boosted its holdings in shares of Energy Recovery by 84.3% during the 3rd quarter. Rice Hall James & Associates LLC now owns 246,472 shares of the industrial products company’s stock valued at $4,286,000 after acquiring an additional 112,754 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in Energy Recovery in the third quarter valued at about $193,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Energy Recovery by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 1,433 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Energy Recovery by 10.1% during the third quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock worth $7,841,000 after purchasing an additional 41,286 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Energy Recovery by 53.5% in the third quarter. Creative Planning now owns 37,342 shares of the industrial products company’s stock valued at $649,000 after buying an additional 13,008 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.