Insider Selling: Energy Recovery, Inc. (ERII) Director Sells 101,990 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Hans Peter Michelet sold 101,990 shares of the business’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $8.12, for a total value of $828,158.80. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Energy Recovery traded up $0.05, reaching $8.12, on Monday, according to MarketBeat Ratings. The stock had a trading volume of 257,000 shares, compared to its average volume of 389,477. Energy Recovery, Inc. has a fifty-two week low of $6.13 and a fifty-two week high of $11.30. The company has a quick ratio of 4.32, a current ratio of 4.61 and a debt-to-equity ratio of 0.01. The stock has a market cap of $431.77 million, a PE ratio of 116.00 and a beta of 5.29.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Thursday, May 3rd. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $13.80 million during the quarter, compared to analysts’ expectations of $16.08 million. Energy Recovery had a return on equity of 6.13% and a net margin of 22.35%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. equities research analysts expect that Energy Recovery, Inc. will post 0.15 EPS for the current year.



Energy Recovery announced that its Board of Directors has authorized a stock repurchase plan on Thursday, March 8th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

A number of equities analysts have issued reports on ERII shares. B. Riley set a $20.00 target price on Energy Recovery and gave the stock a “buy” rating in a report on Tuesday, March 27th. ValuEngine raised Energy Recovery from a “hold” rating to a “buy” rating in a report on Tuesday, May 8th. BidaskClub raised Energy Recovery from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 13th. TheStreet raised Energy Recovery from a “c” rating to a “b-” rating in a report on Thursday, March 8th. Finally, Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Friday, April 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.14.

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Energy Recovery in the fourth quarter valued at about $631,000. Encompass Capital Advisors LLC increased its stake in shares of Energy Recovery by 51.1% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,208,674 shares of the industrial products company’s stock valued at $10,576,000 after buying an additional 408,674 shares during the period. BlackRock Inc. increased its stake in shares of Energy Recovery by 1.2% in the fourth quarter. BlackRock Inc. now owns 2,204,184 shares of the industrial products company’s stock valued at $19,287,000 after buying an additional 26,017 shares during the period. Aristotle Atlantic Partners LLC acquired a new stake in shares of Energy Recovery in the fourth quarter valued at about $131,000. Finally, Avenir Corp increased its stake in shares of Energy Recovery by 14.3% in the fourth quarter. Avenir Corp now owns 285,550 shares of the industrial products company’s stock valued at $2,499,000 after buying an additional 35,800 shares during the period. 38.14% of the stock is owned by institutional investors.

About Energy Recovery

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 worldwide. 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 low and high-pressure reverse osmosis systems.

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