Energy Recovery (NASDAQ:ERII) Announces Earnings Results

Energy Recovery (NASDAQ:ERII) released its quarterly earnings data on Wednesday. The industrial products company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01, Briefing.com reports. The business had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS.

Energy Recovery Trading Up 0.4 %

ERII traded up $0.07 during midday trading on Thursday, hitting $17.93. 371,612 shares of the company traded hands, compared to its average volume of 409,206. The business has a 50 day simple moving average of $17.16 and a two-hundred day simple moving average of $15.24. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $19.94. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23.

Insider Transactions at Energy Recovery

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares in the company, valued at $1,565,204.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,581 shares of company stock valued at $351,936 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

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

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.