Joshua Ballard Sells 4,051 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERIIGet Free Report) CFO Joshua Ballard sold 4,051 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $13.54, for a total value of $54,850.54. Following the completion of the transaction, the chief financial officer now directly owns 40,376 shares of the company’s stock, valued at approximately $546,691.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Joshua Ballard also recently made the following trade(s):

  • On Monday, March 11th, Joshua Ballard sold 979 shares of Energy Recovery stock. The shares were sold at an average price of $14.98, for a total value of $14,665.42.

Energy Recovery Stock Up 0.6 %

Shares of NASDAQ ERII opened at $13.50 on Friday. Energy Recovery, Inc. has a 12 month low of $12.45 and a 12 month high of $30.76. The company has a market cap of $773.96 million, a price-to-earnings ratio of 39.71 and a beta of 1.26. The business has a fifty day simple moving average of $14.22 and a 200-day simple moving average of $16.07.

Energy Recovery (NASDAQ:ERIIGet Free Report) last announced its earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The business had revenue of $12.09 million during the quarter, compared to the consensus estimate of $12.49 million. As a group, sell-side analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

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

View Our Latest Stock Analysis on ERII

Institutional Investors Weigh In On Energy Recovery

Several hedge funds have recently modified their holdings of ERII. Commonwealth Equity Services LLC lifted its holdings in shares of Energy Recovery by 7.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,223 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 830 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Energy Recovery by 21.3% in the 3rd quarter. Principal Financial Group Inc. now owns 15,533 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 2,727 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Energy Recovery by 32.7% in the 3rd quarter. Victory Capital Management Inc. now owns 80,819 shares of the industrial products company’s stock worth $1,714,000 after acquiring an additional 19,932 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Energy Recovery by 9.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 90,464 shares of the industrial products company’s stock worth $1,919,000 after acquiring an additional 8,100 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Energy Recovery by 12.8% in the 3rd quarter. Arizona State Retirement System now owns 16,043 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 1,816 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Company Profile

(Get Free Report)

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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