Arve Hanstveit Sells 20,000 Shares of Energy Recovery, Inc. (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Arve Hanstveit sold 20,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $13.20, for a total transaction of $264,000.00. Following the completion of the transaction, the director now directly owns 763,182 shares of the company’s stock, valued at approximately $10,074,002.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Arve Hanstveit also recently made the following trade(s):

• On Wednesday, May 8th, Arve Hanstveit sold 35,000 shares of Energy Recovery stock. The shares were sold at an average price of $13.53, for a total value of $473,550.00.

Energy Recovery Trading Up 0.1 %

NASDAQ ERII opened at $13.64 on Wednesday. Energy Recovery, Inc. has a 12 month low of $12.45 and a 12 month high of $30.76. The firm has a market capitalization of $781.98 million, a PE ratio of 40.12 and a beta of 1.25. The business’s 50-day moving average price is $13.91 and its two-hundred day moving average price is $15.72.

Energy Recovery (NASDAQ:ERII) 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 for the quarter, compared to analysts’ expectations of $12.49 million. As a group, analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ERII shares. StockNews.com lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Evercore ISI dropped their price target on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently modified their holdings of the company. FMR LLC grew its holdings in Energy Recovery by 376.4% during the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after acquiring an additional 3,090,086 shares during the period. Brown Capital Management LLC boosted its position in shares of Energy Recovery by 64.7% during the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock valued at $82,085,000 after purchasing an additional 1,711,129 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Energy Recovery during the 4th quarter valued at about $6,991,000. Trillium Asset Management LLC acquired a new stake in Energy Recovery during the first quarter worth approximately $3,774,000. Finally, New York State Common Retirement Fund increased its holdings in Energy Recovery by 33.0% in the fourth quarter. New York State Common Retirement Fund now owns 745,853 shares of the industrial products company’s stock worth $14,052,000 after purchasing an additional 185,163 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Company Profile

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.