Energy Recovery (NASDAQ:ERII) Director Colin Sabol Buys 11,180 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Colin Sabol acquired 11,180 shares of Energy Recovery stock in a transaction on Monday, June 15th. The shares were bought at an average price of $8.88 per share, for a total transaction of $99,278.40. Following the completion of the purchase, the director directly 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 filing with the Securities & Exchange Commission, which is available at this link.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII opened at $8.99 on Thursday. The stock has a market capitalization of $463.34 million, a price-to-earnings ratio of 23.66 and a beta of 0.94. Energy Recovery, Inc. has a 1-year low of $7.83 and a 1-year high of $18.32. The company’s fifty day moving average is $9.48 and its two-hundred day moving average is $11.96.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share 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 return on equity of 10.89% and a net margin of 15.07%. Sell-side analysts expect that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Loop Capital set a $13.00 price objective on shares of Energy Recovery in a report on Monday, March 2nd. Weiss Ratings lowered shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Seaport Research Partners reiterated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a report on Wednesday, May 13th. Freedom Capital cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Energy Recovery presently has a consensus rating of “Hold” and an average price target of $15.00.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently bought and sold shares of ERII. Royal Bank of Canada boosted its stake in Energy Recovery by 43.1% during the first quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock worth $258,000 after buying an additional 4,899 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Energy Recovery during the 1st quarter worth about $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Energy Recovery by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock worth $714,000 after buying an additional 3,185 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Energy Recovery by 10.7% during 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 buying an additional 19,992 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Energy Recovery by 54.4% during the 1st quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock worth $1,944,000 after buying an additional 43,089 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

About Energy Recovery

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.