David W. Moon Purchases 10,500 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon acquired 10,500 shares of the stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $13.46 per share, for a total transaction of $141,330.00. Following the purchase, the chief executive officer now directly owns 29,750 shares in the company, valued at $400,435. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Energy Recovery Stock Up 3.0 %

Shares of ERII stock traded up $0.41 during trading hours on Thursday, reaching $13.90. 676,309 shares of the stock traded hands, compared to its average volume of 462,671. The firm has a market capitalization of $796.89 million, a PE ratio of 40.65 and a beta of 1.26. Energy Recovery, Inc. has a 1-year low of $12.45 and a 1-year high of $30.76. The business has a fifty day moving average price of $14.72 and a 200 day moving average price of $16.44.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The firm had revenue of $57.19 million during the quarter, compared to analyst estimates of $63.57 million. During the same period in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. Research analysts expect that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC boosted its stake in Energy Recovery by 64.7% in the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock worth $82,085,000 after purchasing an additional 1,711,129 shares during the period. FMR LLC boosted its stake in Energy Recovery by 376.4% in the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after purchasing an additional 3,090,086 shares during the period. Vanguard Group Inc. boosted its stake in Energy Recovery by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,893,124 shares of the industrial products company’s stock worth $61,363,000 after purchasing an additional 41,967 shares during the period. Avenir Corp boosted its stake in Energy Recovery by 3.9% in the 3rd quarter. Avenir Corp now owns 1,780,540 shares of the industrial products company’s stock worth $37,765,000 after purchasing an additional 67,184 shares during the period. Finally, Jennison Associates LLC boosted its stake in Energy Recovery by 0.6% in the 3rd quarter. Jennison Associates LLC now owns 1,521,895 shares of the industrial products company’s stock worth $32,279,000 after purchasing an additional 8,512 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ERII shares. StockNews.com cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Evercore ISI decreased their target price on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th.

Energy Recovery Company Profile

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.