Energy Recovery, Inc. (ERII) Director Sells $1,181,857.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 139,042 shares of Energy Recovery stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.50, for a total value of $1,181,857.00. Following the completion of the transaction, the director now directly owns 1,134,842 shares in the company, valued at $9,646,157. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NASDAQ ERII opened at $9.10 on Friday. The stock has a market capitalization of $492.37 million, a PE ratio of 45.50 and a beta of 4.81. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.11. Energy Recovery, Inc. has a 1-year low of $6.17 and a 1-year high of $10.25.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Thursday, March 7th. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $17.71 million for the quarter, compared to analyst estimates of $15.68 million. Energy Recovery had a return on equity of 10.25% and a net margin of 36.99%. Sell-side analysts expect that Energy Recovery, Inc. will post 0.26 EPS for the current fiscal year.

Several research firms have recently weighed in on ERII. BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Saturday. JMP Securities reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 11th. Seaport Global Securities lowered Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Friday, December 7th. ValuEngine raised Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research lowered Energy Recovery from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $14.33.

A number of institutional investors have recently added to or reduced their stakes in ERII. Trigran Investments Inc. lifted its position in Energy Recovery by 247.3% during the 4th quarter. Trigran Investments Inc. now owns 2,843,802 shares of the industrial products company’s stock worth $19,139,000 after acquiring an additional 2,025,009 shares in the last quarter. Avenir Corp lifted its position in Energy Recovery by 56.1% during the 4th quarter. Avenir Corp now owns 798,095 shares of the industrial products company’s stock worth $5,371,000 after acquiring an additional 286,899 shares in the last quarter. Quantum Capital Management lifted its position in Energy Recovery by 82.5% during the 4th quarter. Quantum Capital Management now owns 241,639 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 109,200 shares in the last quarter. Alambic Investment Management L.P. lifted its position in Energy Recovery by 425.0% during the 4th quarter. Alambic Investment Management L.P. now owns 97,222 shares of the industrial products company’s stock worth $654,000 after acquiring an additional 78,704 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Energy Recovery by 36.8% during the 4th quarter. Bank of New York Mellon Corp now owns 185,978 shares of the industrial products company’s stock worth $1,251,000 after acquiring an additional 50,009 shares in the last quarter. 35.84% of the stock is currently owned by hedge funds and other institutional investors.

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About Energy Recovery

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 worldwide. 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 low and high-pressure reverse osmosis systems.

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