Energy Recovery (NASDAQ:ERII) Issues Quarterly Earnings Results

Energy Recovery (NASDAQ:ERII) released its quarterly earnings data on Wednesday. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01, Briefing.com reports. Energy Recovery had a return on equity of 9.07% and a net margin of 14.35%. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same period last year, the business posted $0.17 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year.

Energy Recovery Stock Performance

Energy Recovery stock opened at $18.53 on Friday. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $19.94. The firm’s 50-day moving average is $17.17 and its 200-day moving average is $15.29. The company has a market cap of $1.07 billion, a P/E ratio of 54.50 and a beta of 1.23.

Analysts Set New Price Targets

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

Insider Activity at Energy Recovery

In related news, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction that occurred on 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 owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Farshad Ghasripoor sold 10,526 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the sale, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the sale, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at $1,565,204.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,581 shares of company stock valued at $351,936 in the last quarter. 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.