Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon Sells 2,550 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Energy Recovery Price Performance

ERII opened at $17.86 on Thursday. The business has a fifty day simple moving average of $17.17 and a 200 day simple moving average of $15.22. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $19.94. The company has a market capitalization of $1.02 billion, a PE ratio of 52.53 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The company had revenue of $27.20 million during the quarter, compared to the consensus estimate of $23.36 million. Equities analysts anticipate that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ERII shares. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Institutional Trading of Energy Recovery

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Energy Recovery by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after purchasing an additional 53,720 shares in the last quarter. Raymond James & Associates raised its position in shares of Energy Recovery by 10.1% in the third quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock valued at $7,841,000 after buying an additional 41,286 shares in the last quarter. Anchor Capital Management Company LLC boosted its stake in shares of Energy Recovery by 18.2% in the second quarter. Anchor Capital Management Company LLC now owns 420,081 shares of the industrial products company’s stock valued at $5,583,000 after buying an additional 64,581 shares during the period. Millennium Management LLC grew its position in Energy Recovery by 130.3% during the second quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after buying an additional 201,770 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Energy Recovery by 82.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock worth $3,640,000 after acquiring an additional 123,664 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Energy Recovery

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.