Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon Buys 10,500 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon purchased 10,500 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $13.46 per share, for a total transaction of $141,330.00. Following the completion of the transaction, the chief executive officer now directly owns 29,750 shares in the company, valued at $400,435. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Energy Recovery Price Performance

Shares of Energy Recovery stock traded up $0.26 on Friday, hitting $14.16. The company had a trading volume of 69,144 shares, compared to its average volume of 458,049. The firm has a market capitalization of $811.79 million, a P/E ratio of 40.88 and a beta of 1.26. Energy Recovery, Inc. has a twelve month low of $12.45 and a twelve month high of $30.76. The stock has a 50-day moving average of $14.68 and a 200-day moving average of $16.42.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities analysts predict that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Evercore ISI decreased their price target on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its stake in Energy Recovery by 33.0% in the fourth quarter. New York State Common Retirement Fund now owns 745,853 shares of the industrial products company’s stock valued at $14,052,000 after buying an additional 185,163 shares during the period. Barclays PLC boosted its position in Energy Recovery by 8.2% during the third quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 1,671 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Energy Recovery by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock valued at $9,198,000 after purchasing an additional 13,247 shares during the period. FMR LLC lifted its stake in shares of Energy Recovery by 376.4% during the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after buying an additional 3,090,086 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Energy Recovery by 4.6% during the 3rd quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock worth $18,905,000 after buying an additional 39,310 shares during the period. 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.