Insider Buying: Energy Recovery (NASDAQ:ERII) Director Acquires $99,278.40 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Colin Sabol purchased 11,180 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the transaction, the director owned 55,671 shares of the company’s stock, valued at $494,358.48. This trade represents a 25.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Energy Recovery Price Performance

Shares of ERII stock opened at $9.42 on Friday. The company’s fifty day simple moving average is $9.43 and its 200-day simple moving average is $11.90. Energy Recovery, Inc. has a 12 month low of $7.83 and a 12 month high of $18.32. The firm has a market cap of $485.51 million, a PE ratio of 24.79 and a beta of 0.94.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The company had revenue of $9.71 million during the quarter, compared to analyst estimates of $8.37 million. On average, equities analysts predict that Energy Recovery, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ERII has been the subject of several research analyst reports. Freedom Capital downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings lowered shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Northcoast Research lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Finally, Loop Capital set a $13.00 target price on Energy Recovery in a research report on Monday, March 2nd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Institutional Trading of Energy Recovery

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Energy Recovery by 43.1% in the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 4,899 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Energy Recovery during the first quarter valued at approximately $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Energy Recovery by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock worth $714,000 after purchasing an additional 3,185 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Energy Recovery by 10.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company’s stock worth $3,274,000 after acquiring an additional 19,992 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Energy Recovery by 54.4% in the first quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock worth $1,944,000 after purchasing an additional 43,089 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.