Key Points
- Director Pamela Tondreau bought 20,000 shares of Energy Recovery at an average price of $8.34, spending $166,800 and increasing her direct ownership by 115.19% to 37,362 shares.
- Energy Recovery recently reported quarterly EPS of ($0.23), missing analyst expectations, though revenue of $9.71 million came in above forecasts.
- Wall Street sentiment remains mixed but cautious: the stock’s consensus rating is Hold with an average target price of $15.00, while several firms have recently cut their ratings.
Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Pamela Tondreau acquired 20,000 shares of Energy Recovery stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the acquisition, the director directly owned 37,362 shares of the company's stock, valued at approximately $311,599.08. The trade was a 115.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Energy Recovery Price Performance
Shares of NASDAQ ERII opened at $8.41 on Friday. The stock has a market capitalization of $433.45 million, a P/E ratio of 22.13 and a beta of 1.04. The company has a 50-day moving average price of $10.30 and a 200-day moving average price of $13.06. Energy Recovery, Inc. has a 1 year low of $8.14 and a 1 year high of $18.32.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.13). The business had revenue of $9.71 million for the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. As a group, equities research analysts anticipate that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ERII. Loop Capital set a $13.00 price objective on shares of Energy Recovery in a report on Monday, March 2nd. Seaport Research Partners reiterated a "buy" rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday. Wall Street Zen cut shares of Energy Recovery from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings cut shares of Energy Recovery from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Finally, Freedom Capital cut shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.00.
Read Our Latest Stock Analysis on Energy Recovery
Institutional Trading of Energy Recovery
Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in Energy Recovery by 54.7% in the first quarter. Lazard Asset Management LLC now owns 67,429 shares of the industrial products company's stock worth $679,000 after acquiring an additional 23,838 shares during the period. Renaissance Technologies LLC raised its position in Energy Recovery by 40.1% in the first quarter. Renaissance Technologies LLC now owns 144,265 shares of the industrial products company's stock worth $1,453,000 after acquiring an additional 41,280 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Energy Recovery by 47.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company's stock worth $5,177,000 after acquiring an additional 165,915 shares during the period. Caxton Associates LLP raised its position in Energy Recovery by 37.2% in the first quarter. Caxton Associates LLP now owns 25,731 shares of the industrial products company's stock worth $259,000 after acquiring an additional 6,979 shares during the period. Finally, Sei Investments Co. bought a new stake in Energy Recovery in the first quarter worth about $522,000. Institutional investors own 83.58% of the company's stock.
Energy Recovery Company Profile
(
Get Free Report)
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.
Further Reading
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