Energy Recovery, Inc. (ERII) Director Sells $879,605.10 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Hans Peter Michelet sold 84,986 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.35, for a total transaction of $879,605.10. Following the completion of the sale, the director now owns 28,126 shares in the company, valued at approximately $291,104.10. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Hans Peter Michelet also recently made the following trade(s):

  • On Monday, May 20th, Hans Peter Michelet sold 28,126 shares of Energy Recovery stock. The shares were sold at an average price of $10.45, for a total transaction of $293,916.70.
  • On Wednesday, May 15th, Hans Peter Michelet sold 18,365 shares of Energy Recovery stock. The shares were sold at an average price of $11.00, for a total transaction of $202,015.00.
  • On Friday, May 17th, Hans Peter Michelet sold 99,014 shares of Energy Recovery stock. The shares were sold at an average price of $10.73, for a total transaction of $1,062,420.22.

Shares of Energy Recovery stock traded down $0.07 during trading on Wednesday, reaching $10.22. The company had a trading volume of 145,101 shares, compared to its average volume of 210,703. The firm has a market cap of $556.78 million, a PE ratio of 51.10 and a beta of 4.77. Energy Recovery, Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.55 and a current ratio of 4.85.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $19.80 million for the quarter, compared to analyst estimates of $15.98 million. Energy Recovery had a net margin of 39.35% and a return on equity of 11.72%. Energy Recovery’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities analysts predict that Energy Recovery, Inc. will post 0.25 earnings per share for the current year.

A number of brokerages have recently issued reports on ERII. TheStreet upgraded shares of Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. JMP Securities restated a “buy” rating and issued a $13.00 target price on shares of Energy Recovery in a research note on Monday, March 11th. Finally, ValuEngine upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Energy Recovery currently has an average rating of “Buy” and an average price target of $14.33.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Trigran Investments Inc. raised its stake in Energy Recovery by 247.3% during the fourth quarter. Trigran Investments Inc. now owns 2,843,802 shares of the industrial products company’s stock worth $19,139,000 after acquiring an additional 2,025,009 shares during the period. Avenir Corp raised its stake in Energy Recovery by 56.1% during the fourth quarter. Avenir Corp now owns 798,095 shares of the industrial products company’s stock worth $5,371,000 after acquiring an additional 286,899 shares during the period. Essex Investment Management Co. LLC raised its stake in Energy Recovery by 103.8% during the first quarter. Essex Investment Management Co. LLC now owns 227,786 shares of the industrial products company’s stock worth $1,989,000 after acquiring an additional 116,000 shares during the period. Quantum Capital Management raised its stake in Energy Recovery by 82.5% during the fourth quarter. Quantum Capital Management now owns 241,639 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 109,200 shares during the period. Finally, First Trust Advisors LP raised its stake in Energy Recovery by 23.3% during the first quarter. First Trust Advisors LP now owns 533,469 shares of the industrial products company’s stock worth $4,657,000 after acquiring an additional 100,752 shares during the period. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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