Insider Buying: Energy Recovery, Inc. (NASDAQ:ERII) Director Buys $26,685.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Joan Kai Chow purchased 1,500 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average price of $17.79 per share, with a total value of $26,685.00. Following the completion of the acquisition, the director now directly owns 1,500 shares in the company, valued at $26,685. The purchase was disclosed in a filing with the SEC, which is available through this link.

Energy Recovery Trading Up 0.6 %

NASDAQ:ERII opened at $19.45 on Thursday. The company has a 50-day moving average price of $19.89 and a 200-day moving average price of $24.45. Energy Recovery, Inc. has a 12 month low of $14.04 and a 12 month high of $30.76. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 72.04 and a beta of 1.30.

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

Institutional Investors Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Energy Recovery by 3.8% in the 1st quarter. BlackRock Inc. now owns 5,192,408 shares of the industrial products company’s stock worth $119,685,000 after purchasing an additional 191,341 shares during the period. FMR LLC lifted its position in Energy Recovery by 376.4% during the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock valued at $82,952,000 after acquiring an additional 3,090,086 shares during the period. Trigran Investments Inc. lifted its position in Energy Recovery by 1.4% during the 1st quarter. Trigran Investments Inc. now owns 3,519,830 shares of the industrial products company’s stock valued at $81,132,000 after acquiring an additional 49,953 shares during the period. Vanguard Group Inc. lifted its position in Energy Recovery by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,734,926 shares of the industrial products company’s stock valued at $59,457,000 after acquiring an additional 221,634 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Energy Recovery by 1.5% during the 1st quarter. William Blair Investment Management LLC now owns 2,576,781 shares of the industrial products company’s stock valued at $59,395,000 after acquiring an additional 37,840 shares during the period. 79.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ERII has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Energy Recovery in a report on Thursday, October 5th. They set a “hold” rating for the company. Raymond James lowered their price target on shares of Energy Recovery from $30.00 to $20.00 and set an “outperform” rating for the company in a report 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.