Energy Recovery, Inc. (ERII) Director Sells $202,015.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Hans Peter Michelet sold 18,365 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $11.00, for a total value of $202,015.00. Following the completion of the transaction, the director now directly owns 18,365 shares of the company’s stock, valued at $202,015. The sale was disclosed in a filing with the SEC, which is available through this link.

Hans Peter Michelet also recently made the following trade(s):

  • On Friday, May 17th, Hans Peter Michelet sold 99,014 shares of Energy Recovery stock. The stock was sold at an average price of $10.73, for a total value of $1,062,420.22.

ERII traded down $0.31 during trading on Friday, reaching $10.44. The stock had a trading volume of 317,107 shares, compared to its average volume of 210,902. The company has a market capitalization of $568.76 million, a price-to-earnings ratio of 52.20 and a beta of 4.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.85 and a quick ratio of 4.55. Energy Recovery, Inc. has a 1-year low of $6.17 and a 1-year high of $11.11.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $19.80 million during the quarter, compared to the consensus estimate of $15.98 million. Energy Recovery had a return on equity of 11.72% and a net margin of 39.35%. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. Equities analysts expect that Energy Recovery, Inc. will post 0.25 EPS for the current fiscal year.

A number of brokerages recently issued reports on ERII. TheStreet raised Energy Recovery from a “c+” rating to a “b” rating in a report on Friday, May 3rd. BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. JMP Securities reissued a “buy” rating and issued a $13.00 price objective on shares of Energy Recovery in a report on Monday, March 11th. Finally, ValuEngine raised Energy Recovery from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $14.33.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Trigran Investments Inc. lifted its position in Energy Recovery by 247.3% in the fourth quarter. Trigran Investments Inc. now owns 2,843,802 shares of the industrial products company’s stock worth $19,139,000 after purchasing an additional 2,025,009 shares during the period. Avenir Corp lifted its position in Energy Recovery by 56.1% in the fourth quarter. Avenir Corp now owns 798,095 shares of the industrial products company’s stock worth $5,371,000 after purchasing an additional 286,899 shares during the period. Essex Investment Management Co. LLC lifted its position in Energy Recovery by 103.8% in the first quarter. Essex Investment Management Co. LLC now owns 227,786 shares of the industrial products company’s stock worth $1,989,000 after purchasing an additional 116,000 shares during the period. Quantum Capital Management lifted its position in Energy Recovery by 82.5% in the fourth quarter. Quantum Capital Management now owns 241,639 shares of the industrial products company’s stock worth $1,626,000 after purchasing an additional 109,200 shares during the period. Finally, First Trust Advisors LP lifted its position in Energy Recovery by 23.3% in the first quarter. First Trust Advisors LP now owns 533,469 shares of the industrial products company’s stock worth $4,657,000 after purchasing an additional 100,752 shares during the period. Hedge funds and other institutional investors own 33.43% of the company’s stock.

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About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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