Energy Recovery, Inc. (NASDAQ:ERII) CTO Farshad Ghasripoor Sells 10,526 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CTO Farshad Ghasripoor sold 10,526 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 $189,152.22. Following the completion of the transaction, the chief technology officer now owns 126,961 shares in the company, valued at approximately $2,281,489.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Energy Recovery Stock Performance

Shares of Energy Recovery stock opened at $17.86 on Thursday. The stock has a market cap of $1.02 billion, a P/E ratio of 52.53 and a beta of 1.23. The stock’s fifty day moving average is $17.17 and its 200 day moving average is $15.22. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $19.94.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.36 million. Analysts predict that Energy Recovery, Inc. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Energy Recovery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Trillium Asset Management LLC purchased a new position in Energy Recovery during the first quarter valued at approximately $3,774,000. Millennium Management LLC lifted its stake in shares of Energy Recovery by 130.3% during the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after buying an additional 201,770 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Energy Recovery in the 1st quarter worth $2,372,000. Roubaix Capital LLC purchased a new stake in Energy Recovery in the 2nd quarter worth $1,841,000. Finally, Exchange Traded Concepts LLC raised its holdings in Energy Recovery by 668.4% during the third quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock valued at $2,522,000 after acquiring an additional 126,148 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

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.