Key Points
- Energy Recovery director Colin Sabol bought 11,180 shares for about $99,278 at an average price of $8.88 per share, increasing his stake by 25.13% to 55,671 shares.
- The stock has been under pressure, recently opening at $8.99, below its 50-day average of $9.48 and far under its 200-day average of $11.96, with a market cap of about $463 million.
- Analysts currently have a mixed view on ERII: the consensus rating is Hold with an average price target of $15.00, though recent ratings cuts included moves to sell from Weiss Ratings and Wall Street Zen.
Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) Director Colin Sabol purchased 11,180 shares of the stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $8.88 per share, with a total value of $99,278.40. Following the completion of the purchase, the director owned 55,671 shares in the company, valued at $494,358.48. The trade was 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 $8.99 on Thursday. The stock has a market cap of $463.34 million, a PE ratio of 23.66 and a beta of 0.94. The stock has a 50-day moving average of $9.48 and a 200-day moving average of $11.96. Energy Recovery, Inc. has a one year low of $7.83 and a one year high of $18.32.
Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $8.37 million. As a group, research analysts anticipate that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Weiss Ratings cut shares of Energy Recovery from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Freedom Capital cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen cut Energy Recovery from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Seaport Research Partners reissued a "buy" rating and set a $12.00 target price on shares of Energy Recovery in a report on Wednesday, May 13th. Finally, Loop Capital set a $13.00 target price on Energy Recovery in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.00.
Read Our Latest Analysis on Energy Recovery
Institutional Trading of Energy Recovery
Large investors have recently bought and sold shares of the business. Wexford Capital LP acquired a new stake in shares of Energy Recovery during the third quarter valued at about $27,000. Parallel Advisors LLC bought a new stake in Energy Recovery in the fourth quarter worth approximately $38,000. Group One Trading LLC bought a new stake in Energy Recovery in the first quarter worth approximately $41,000. Comerica Bank increased its holdings in Energy Recovery by 150.5% in the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company's stock worth $52,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Energy Recovery by 172.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock worth $77,000 after purchasing an additional 3,803 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.
About Energy Recovery
(
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.
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