Short Interest in Energy Recovery, Inc. (NASDAQ:ERII) Increases By 5.1%

Energy Recovery, Inc. (NASDAQ:ERII) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 2,490,000 shares, a growth of 5.1% from the April 15th total of 2,370,000 shares. Based on an average daily volume of 448,600 shares, the short-interest ratio is presently 5.6 days. Approximately 4.5% of the shares of the company are sold short.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total transaction of $473,550.00. Following the transaction, the director now owns 772,055 shares in the company, valued at approximately $10,445,904.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Energy Recovery news, CEO David W. Moon bought 10,500 shares of Energy Recovery stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $13.46 per share, with a total value of $141,330.00. Following the completion of the acquisition, the chief executive officer now owns 29,750 shares of the company’s stock, valued at $400,435. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arve Hanstveit sold 35,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total transaction of $473,550.00. Following the sale, the director now owns 772,055 shares of the company’s stock, valued at approximately $10,445,904.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,807 shares of company stock worth $1,906,110. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ERII. Millburn Ridgefield Corp purchased a new stake in Energy Recovery during the third quarter worth $29,000. Catalyst Capital Advisors LLC acquired a new position in shares of Energy Recovery in the third quarter valued at approximately $29,000. Clear Street Markets LLC purchased a new position in shares of Energy Recovery during the 3rd quarter worth $33,000. Sentry Investment Management LLC purchased a new position in shares of Energy Recovery during the 4th quarter worth $117,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Energy Recovery during the first quarter worth $158,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore ISI decreased their price objective on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Energy Recovery Stock Down 2.4 %

Shares of NASDAQ:ERII opened at $13.71 on Friday. Energy Recovery has a fifty-two week low of $12.45 and a fifty-two week high of $30.76. The firm’s 50-day simple moving average is $14.49 and its 200-day simple moving average is $16.33. The company has a market cap of $785.99 million, a price-to-earnings ratio of 40.32 and a beta of 1.26.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The business had revenue of $57.19 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same period in the prior year, the firm posted $0.24 EPS. Energy Recovery’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, research analysts forecast that Energy Recovery will post 0.36 EPS for the current year.

Energy Recovery Company Profile

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.