Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $34,424.39 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 2,353 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $34,424.39. Following the transaction, the senior vice president now owns 140,328 shares in the company, valued at approximately $2,052,998.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Energy Recovery Stock Performance

Energy Recovery stock opened at $17.59 on Friday. The stock’s 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $14.55. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 51.74 and a beta of 1.24. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $30.56.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The business had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $12.49 million. On average, analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Institutional Trading of Energy Recovery

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Energy Recovery by 1.3% in the 4th quarter. Victory Capital Management Inc. now owns 81,902 shares of the industrial products company’s stock worth $1,543,000 after purchasing an additional 1,083 shares in the last quarter. Sentry Investment Management LLC boosted its position in shares of Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,438 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $26,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Energy Recovery by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,756 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 2,018 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on ERII shares. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective 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 research report on Thursday.

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.