Energy Recovery Director Dominique Trempont Acquires 21,571 Shares (ERII)
Energy Recovery (NASDAQ:ERII) Director Dominique Trempont acquired 21,571 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were purchased at an average cost of $5.15 per share, with a total value of $111,090.65. Following the completion of the transaction, the director now directly owns 420,042 shares of the company’s stock, valued at approximately $2,163,216. The purchase was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on ERII shares. Analysts at ING Group upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Friday. Separately, analysts at TheStreet downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Monday, May 12th. Finally, analysts at Zacks upgraded shares of Energy Recovery from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 6th. They now have a $5.80 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Energy Recovery presently has a consensus rating of “Hold” and an average price target of $6.52.
Energy Recovery (NASDAQ:ERII) traded down 0.96% during mid-day trading on Friday, hitting $5.18. 162,548 shares of the company’s stock traded hands. Energy Recovery has a 52-week low of $3.82 and a 52-week high of $7.75. The stock has a 50-day moving average of $4.8 and a 200-day moving average of $4.96. The company’s market cap is $266.8 million.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.04. The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $8.77 million. During the same quarter last year, the company posted ($0.09) earnings per share. Energy Recovery’s revenue was down 38.9% compared to the same quarter last year. On average, analysts predict that Energy Recovery will post $-0.03 earnings per share for the current fiscal year.
Energy Recovery, Inc is engaged in developing, manufacturing and selling of energy recovery devices and circulation pumps primarily for uses in seawater desalination plants that use reverse osmosis technology.
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