Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) CEO Sells 2,550 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at $1,565,204.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Energy Recovery Trading Up 1.6 %

Shares of ERII stock traded up $0.28 on Wednesday, hitting $17.86. The stock had a trading volume of 306,283 shares, compared to its average volume of 409,385. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $19.94. The firm has a market cap of $1.02 billion, a P/E ratio of 52.53 and a beta of 1.23. The company has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $15.22.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. The company had revenue of $27.20 million during the quarter, compared to analyst estimates of $23.36 million. On average, analysts expect that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ERII shares. Raymond James raised shares of 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 raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Energy Recovery by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after purchasing an additional 53,720 shares during the period. Raymond James & Associates boosted its stake in Energy Recovery by 10.1% in the 3rd quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock worth $7,841,000 after purchasing an additional 41,286 shares during the period. Anchor Capital Management Company LLC boosted its stake in Energy Recovery by 18.2% in the 2nd quarter. Anchor Capital Management Company LLC now owns 420,081 shares of the industrial products company’s stock worth $5,583,000 after purchasing an additional 64,581 shares during the period. Millennium Management LLC boosted its stake in Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after purchasing an additional 201,770 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Energy Recovery by 82.3% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock worth $3,640,000 after purchasing an additional 123,664 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.

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.