Energy Recovery, Inc. (NASDAQ:ERII) CEO Buys $153,935.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon bought 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $18.11 per share, with a total value of $153,935.00. Following the transaction, the chief executive officer now directly owns 8,500 shares of the company’s stock, valued at $153,935. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Energy Recovery Stock Up 0.6 %

ERII opened at $19.45 on Thursday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 72.04 and a beta of 1.30. Energy Recovery, Inc. has a 52-week low of $14.04 and a 52-week high of $30.76. The firm’s fifty day simple moving average is $19.89 and its two-hundred day simple moving average is $24.45.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.09. The firm had revenue of $37.00 million for the quarter, compared to the consensus estimate of $31.29 million. Energy Recovery had a net margin of 13.60% and a return on equity of 9.28%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. On average, research analysts forecast that Energy Recovery, Inc. will post 0.4 EPS for the current year.

Institutional Investors Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of Energy Recovery by 79.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,264 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 558 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Energy Recovery during the third quarter valued at about $29,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Energy Recovery during the third quarter valued at about $29,000. Clear Street Markets LLC acquired a new stake in shares of Energy Recovery during the third quarter valued at about $33,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Energy Recovery during the first quarter valued at about $44,000. 79.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ERII shares. StockNews.com started coverage on shares of Energy Recovery in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James cut their price objective on shares of Energy Recovery from $30.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd.

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.