Insider Selling: Energy Recovery, Inc. (NASDAQ:ERII) VP Sells 2,869 Shares of Stock
Energy Recovery, Inc. (NASDAQ:ERII) VP Farshad Ghasripoor sold 2,869 shares of the business’s stock in a transaction dated Thursday, January 9th. The stock was sold at an average price of $10.00, for a total transaction of $28,690.00. Following the sale, the vice president now directly owns 67,189 shares of the company’s stock, valued at $671,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
ERII stock traded down $0.01 during trading on Tuesday, reaching $9.99. The stock had a trading volume of 5,119 shares, compared to its average volume of 158,778. Energy Recovery, Inc. has a one year low of $7.10 and a one year high of $12.04. The company has a quick ratio of 4.01, a current ratio of 4.32 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $9.35 and its two-hundred day moving average is $9.68. The company has a market capitalization of $548.40 million, a price-to-earnings ratio of 50.08 and a beta of 4.20.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The business had revenue of $24.90 million during the quarter, compared to the consensus estimate of $22.01 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, research analysts predict that Energy Recovery, Inc. will post 0.17 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on ERII shares. ValuEngine downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Raymond James started coverage on shares of Energy Recovery in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $12.00 target price for the company. JMP Securities set a $15.00 target price on shares of Energy Recovery and gave the stock a “buy” rating in a research report on Thursday, October 10th. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Friday, November 8th. Finally, BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.20.
Energy Recovery Company Profile
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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