Energy Recovery, Inc. (NASDAQ:ERII) Director Hans Peter Michelet sold 99,014 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $10.73, for a total transaction of $1,062,420.22. Following the completion of the sale, the director now directly owns 18,365 shares of the company’s stock, valued at approximately $197,056.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Hans Peter Michelet also recently made the following trade(s):
- On Wednesday, May 15th, Hans Peter Michelet sold 18,365 shares of Energy Recovery stock. The shares were sold at an average price of $11.00, for a total transaction of $202,015.00.
Shares of Energy Recovery stock traded down $0.31 on Friday, reaching $10.44. 317,107 shares of the stock were exchanged, compared to its average volume of 210,902. Energy Recovery, Inc. has a one year low of $6.17 and a one year high of $11.11. The company has a current ratio of 4.85, a quick ratio of 4.55 and a debt-to-equity ratio of 0.10. The company has a market cap of $568.76 million, a PE ratio of 52.20 and a beta of 4.77.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Energy Recovery had a net margin of 39.35% and a return on equity of 11.72%. The company had revenue of $19.80 million during the quarter, compared to the consensus estimate of $15.98 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. Research analysts forecast that Energy Recovery, Inc. will post 0.25 earnings per share for the current year.
A number of analysts have issued reports on ERII shares. TheStreet raised shares of Energy Recovery from a “c+” rating to a “b” rating in a report on Friday, May 3rd. BidaskClub raised shares of Energy Recovery from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. ValuEngine raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, JMP Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Energy Recovery in a report on Monday, March 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.33.
Several institutional investors have recently modified their holdings of the company. Zebra Capital Management LLC bought a new stake in shares of Energy Recovery during the 1st quarter worth approximately $237,000. SEI Investments Co lifted its holdings in shares of Energy Recovery by 22.5% during the 1st quarter. SEI Investments Co now owns 10,387 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 1,907 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of Energy Recovery by 103.8% during the 1st quarter. Essex Investment Management Co. LLC now owns 227,786 shares of the industrial products company’s stock worth $1,989,000 after acquiring an additional 116,000 shares during the period. Marshall Wace LLP bought a new stake in shares of Energy Recovery during the 1st quarter worth approximately $308,000. Finally, Geode Capital Management LLC lifted its stake in Energy Recovery by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 407,814 shares of the industrial products company’s stock valued at $3,560,000 after purchasing an additional 21,788 shares during the last quarter. 33.43% of the stock is owned by institutional investors.
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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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