Energy Recovery, Inc. (NASDAQ:ERII) VP Sells $28,690.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) VP Farshad Ghasripoor sold 2,869 shares of the firm’s stock in a transaction dated Thursday, January 9th. The stock was sold at an average price of $10.00, for a total transaction of $28,690.00. Following the sale, the vice president now owns 67,189 shares of the company’s stock, valued at $671,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Energy Recovery stock opened at $10.12 on Thursday. Energy Recovery, Inc. has a 12-month low of $7.10 and a 12-month high of $12.04. The stock has a market cap of $547.85 million, a P/E ratio of 50.60 and a beta of 4.20. The company has a 50-day moving average price of $9.40 and a 200 day moving average price of $9.68. The company has a current ratio of 4.32, a quick ratio of 4.01 and a debt-to-equity ratio of 0.09.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The firm had revenue of $24.90 million during the quarter, compared to analysts’ expectations of $22.01 million. During the same period last year, the business earned $0.08 earnings per share. Energy Recovery’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts forecast that Energy Recovery, Inc. will post 0.17 EPS for the current year.

Several research firms recently issued reports on ERII. Raymond James began coverage on shares of Energy Recovery in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $12.00 price objective for the company. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Friday, November 8th. ValuEngine cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, JMP Securities set a $15.00 price objective on shares of Energy Recovery and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Energy Recovery currently has an average rating of “Buy” and a consensus price target of $14.20.

A number of hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC boosted its stake in Energy Recovery by 2,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,500 shares of the industrial products company’s stock worth $102,000 after buying an additional 10,000 shares during the period. Metropolitan Life Insurance Co NY boosted its stake in Energy Recovery by 29.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 12,593 shares of the industrial products company’s stock worth $117,000 after buying an additional 2,843 shares during the period. State Street Corp boosted its stake in Energy Recovery by 1.7% during the third quarter. State Street Corp now owns 715,974 shares of the industrial products company’s stock worth $6,633,000 after buying an additional 11,777 shares during the period. Monarch Partners Asset Management LLC boosted its stake in Energy Recovery by 5.3% during the third quarter. Monarch Partners Asset Management LLC now owns 80,725 shares of the industrial products company’s stock worth $748,000 after buying an additional 4,090 shares during the period. Finally, First Trust Advisors LP boosted its stake in Energy Recovery by 5.2% during the third quarter. First Trust Advisors LP now owns 589,767 shares of the industrial products company’s stock worth $5,464,000 after buying an additional 29,136 shares during the period. 34.55% of the stock is owned by institutional investors.

Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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