Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) Director Arve Hanstveit sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now owns 693,182 shares in the company, valued at $11,326,593.88. This represents a 6.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Energy Recovery Trading Up 2.4 %
NASDAQ ERII opened at $16.38 on Friday. The business has a fifty day simple moving average of $14.97 and a 200 day simple moving average of $16.16. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The firm has a market capitalization of $900.16 million, a P/E ratio of 48.18 and a beta of 1.21.
Energy Recovery (NASDAQ:ERII – Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $67.39 million. As a group, sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.
Analysts Set New Price Targets
View Our Latest Report on Energy Recovery
Hedge Funds Weigh In On Energy Recovery
Several hedge funds have recently modified their holdings of ERII. Avanza Fonder AB bought a new position in shares of Energy Recovery in the fourth quarter valued at approximately $107,000. Schroder Investment Management Group bought a new position in Energy Recovery in the 4th quarter valued at $160,000. Nebula Research & Development LLC increased its position in shares of Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Energy Recovery during the 4th quarter worth $211,000. Finally, Two Sigma Investments LP purchased a new position in shares of Energy Recovery in the 4th quarter worth about $229,000. Institutional investors own 83.58% 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.
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