Energy Recovery (NASDAQ:ERII) Shares Gap Down on Insider Selling

Energy Recovery, Inc. (NASDAQ:ERII) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $17.86, but opened at $16.85. Energy Recovery shares last traded at $17.03, with a volume of 45,788 shares traded.

Specifically, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, the senior vice president now directly owns 133,823 shares of the company’s stock, valued at $2,406,137.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other Energy Recovery news, CTO Farshad Ghasripoor sold 10,526 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the completion of the sale, the chief technology officer now directly owns 126,961 shares in the company, valued at approximately $2,281,489.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 9th.

Energy Recovery Stock Up 3.8 %

The firm’s 50 day simple moving average is $17.16 and its two-hundred day simple moving average is $15.26. The stock has a market capitalization of $1.07 billion, a P/E ratio of 54.50 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 9.07% and a net margin of 14.35%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in Energy Recovery during the second quarter worth $26,000. CWM LLC raised its holdings in shares of Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 4,177 shares during the last quarter. Sentry Investment Management LLC raised its holdings in shares of Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,438 shares during the last quarter. ProShare Advisors LLC bought a new position in Energy Recovery in the 1st quarter valued at about $158,000. Finally, Pinnacle Associates Ltd. acquired a new position in Energy Recovery during the 3rd quarter valued at about $193,000. 83.58% of the stock is owned by institutional investors and hedge funds.

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.