Energy Recovery, Inc. (NASDAQ:ERII) CFO Sells $16,821.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) CFO Joshua Ballard sold 700 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $24.03, for a total value of $16,821.00. Following the sale, the chief financial officer now owns 46,152 shares of the company’s stock, valued at approximately $1,109,032.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Energy Recovery Price Performance

NASDAQ:ERII opened at $23.67 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of 131.51 and a beta of 1.24. The business has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $25.53. Energy Recovery, Inc. has a 1 year low of $17.32 and a 1 year high of $30.76.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $20.72 million during the quarter, compared to analysts’ expectations of $24.52 million. Energy Recovery had a return on equity of 7.11% and a net margin of 9.87%. As a group, analysts anticipate that Energy Recovery, Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Energy Recovery

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC boosted its holdings in Energy Recovery by 11.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 225,435 shares of the industrial products company’s stock worth $6,301,000 after buying an additional 23,472 shares during the period. Alliancebernstein L.P. lifted its position in shares of Energy Recovery by 1.0% during the second quarter. Alliancebernstein L.P. now owns 84,761 shares of the industrial products company’s stock worth $2,369,000 after acquiring an additional 850 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Energy Recovery by 28.5% in the second quarter. Wells Fargo & Company MN now owns 55,103 shares of the industrial products company’s stock worth $1,540,000 after acquiring an additional 12,209 shares during the period. State of Tennessee Treasury Department purchased a new position in shares of Energy Recovery in the second quarter valued at $207,000. Finally, Point72 Middle East FZE bought a new stake in shares of Energy Recovery during the 2nd quarter valued at $472,000. Institutional investors own 79.49% of the company’s stock.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of recent analyst reports. StockNews.com began coverage on Energy Recovery in a report on Thursday, August 17th. They set a “hold” rating on the stock. Raymond James boosted their price target on shares of Energy Recovery from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, B. Riley raised their price objective on shares of Energy Recovery from $28.00 to $32.00 in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Energy Recovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. The company operates through Water and Emerging Technologies segments. It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services.