Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) Director Sells 50,000 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Energy Recovery Trading Down 1.5 %

ERII stock traded down $0.25 during mid-day trading on Thursday, reaching $15.99. The company’s stock had a trading volume of 327,345 shares, compared to its average volume of 384,848. The company’s 50 day moving average is $14.93 and its two-hundred day moving average is $16.17. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The stock has a market cap of $878.73 million, a PE ratio of 47.03 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Energy Recovery

Several hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Energy Recovery by 4.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company’s stock valued at $2,735,000 after acquiring an additional 8,076 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Energy Recovery in the 4th quarter valued at $229,000. State of Wyoming grew its holdings in shares of Energy Recovery by 13.2% during the 4th quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 2,699 shares during the period. Select Equity Group L.P. increased its position in shares of Energy Recovery by 9.4% during the 4th quarter. Select Equity Group L.P. now owns 132,495 shares of the industrial products company’s stock worth $1,948,000 after purchasing an additional 11,351 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Energy Recovery by 45.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock valued at $7,308,000 after buying an additional 156,184 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ERII shares. Evercore ISI lowered their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Scotiabank started coverage on Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Finally, B. Riley dropped their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Energy Recovery currently has an average rating of “Buy” and an average target price of $20.75.

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.