Energy Recovery (NASDAQ:ERII) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Energy Recovery (NASDAQ:ERII) released its quarterly earnings results on Wednesday. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01, Briefing.com reports. The business had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 earnings per share.

Energy Recovery Stock Performance

ERII stock remained flat at $17.86 during mid-day trading on Thursday. 551,606 shares of the company’s stock traded hands, compared to its average volume of 410,059. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $19.94. The business has a fifty day simple moving average of $17.16 and a 200 day simple moving average of $15.24.

Analysts Set New Price Targets

ERII has been the topic of a number of analyst reports. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Insider Transactions at Energy Recovery

In other news, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO David W. Moon purchased 3,000 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.00 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at $524,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,581 shares of company stock valued at $351,936 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

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.