Energy Recovery (ERII) to Release Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) will be posting its quarterly earnings results after the market closes on Wednesday, July 31st. Analysts expect Energy Recovery to post earnings of ($0.02) per share for the quarter. Energy Recovery has set its FY 2024 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $12.49 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. On average, analysts expect Energy Recovery to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Energy Recovery Trading Down 3.2 %

NASDAQ ERII opened at $14.43 on Tuesday. The stock has a market capitalization of $827.27 million, a price-to-earnings ratio of 42.44 and a beta of 1.24. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $30.70. The stock has a 50-day moving average of $13.55 and a 200 day moving average of $14.55.

Insider Activity

In related news, Director Robert Yu Lang Mao sold 21,045 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $13.86, for a total value of $291,683.70. Following the completion of the transaction, the director now directly owns 236,099 shares in the company, valued at $3,272,332.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert Yu Lang Mao sold 21,045 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $13.86, for a total value of $291,683.70. Following the completion of the transaction, the director now directly owns 236,099 shares in the company, valued at $3,272,332.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joshua Ballard sold 4,051 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $13.54, for a total value of $54,850.54. Following the completion of the transaction, the chief financial officer now owns 40,376 shares of the company’s stock, valued at $546,691.04. The disclosure for this sale can be found here. Insiders sold 80,096 shares of company stock worth $1,084,084 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

ERII has been the subject of a number of research analyst reports. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Tuesday, July 9th. StockNews.com cut Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

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.