Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $392,360.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 19,618 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.00, for a total value of $392,360.00. Following the completion of the transaction, the senior vice president now owns 114,205 shares of the company’s stock, valued at $2,284,100. This represents a 14.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Rodney Clemente also recently made the following trade(s):

• On Monday, November 11th, Rodney Clemente sold 4,207 shares of Energy Recovery stock. The shares were sold at an average price of $20.06, for a total transaction of $84,392.42.
• On Monday, October 28th, Rodney Clemente sold 6,505 shares of Energy Recovery stock. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90.

Energy Recovery Stock Performance

NASDAQ:ERII opened at $19.00 on Friday. The stock’s 50-day simple moving average is $17.61 and its 200 day simple moving average is $15.61. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The company has a market cap of $1.10 billion, a P/E ratio of 55.88 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ERII has been the subject of a number of research reports. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Institutional Trading of Energy Recovery

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Energy Recovery by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 1,330 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after buying an additional 1,433 shares during the last quarter. Sentry Investment Management LLC boosted its stake in shares of Energy Recovery by 23.2% during the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,438 shares during the period. Rhumbline Advisers increased its holdings in shares of Energy Recovery by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 1,893 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in Energy Recovery in the 2nd quarter valued at $26,000. 83.58% of the stock is owned by institutional investors.

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.