Energy Recovery, Inc. (NASDAQ:ERII) Director Hans Peter Michelet sold 20,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $9.92, for a total transaction of $198,400.00. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $148,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hans Peter Michelet also recently made the following trade(s):

  • On Monday, June 10th, Hans Peter Michelet sold 10,000 shares of Energy Recovery stock. The stock was sold at an average price of $10.06, for a total transaction of $100,600.00.
  • On Monday, May 20th, Hans Peter Michelet sold 28,126 shares of Energy Recovery stock. The stock was sold at an average price of $10.45, for a total transaction of $293,916.70.
  • On Wednesday, May 22nd, Hans Peter Michelet sold 84,986 shares of Energy Recovery stock. The stock was sold at an average price of $10.35, for a total transaction of $879,605.10.
  • On Wednesday, May 15th, Hans Peter Michelet sold 18,365 shares of Energy Recovery stock. The stock was sold at an average price of $11.00, for a total transaction of $202,015.00.
  • On Friday, May 17th, Hans Peter Michelet sold 99,014 shares of Energy Recovery stock. The stock was sold at an average price of $10.73, for a total transaction of $1,062,420.22.

ERII opened at $9.89 on Wednesday. Energy Recovery, Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.11. The stock has a market cap of $539.35 million, a P/E ratio of 49.45 and a beta of 4.48. The company has a current ratio of 4.85, a quick ratio of 4.55 and a debt-to-equity ratio of 0.10.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Energy Recovery had a net margin of 39.35% and a return on equity of 11.72%. The company had revenue of $19.80 million for the quarter, compared to analyst estimates of $15.98 million. During the same quarter last year, the business earned ($0.01) earnings per share. Energy Recovery’s revenue was up 43.5% compared to the same quarter last year. Sell-side analysts predict that Energy Recovery, Inc. will post 0.27 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc boosted its position in Energy Recovery by 44.4% during the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 2,294 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Energy Recovery by 53,485.7% during the first quarter. BNP Paribas Arbitrage SA now owns 7,502 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 7,488 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Energy Recovery by 262.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 7,083 shares in the last quarter. SEI Investments Co boosted its position in Energy Recovery by 22.5% during the first quarter. SEI Investments Co now owns 10,387 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 1,907 shares in the last quarter. Finally, ETF Managers Group LLC raised its holdings in shares of Energy Recovery by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2,163 shares during the last quarter. Institutional investors own 31.98% of the company’s stock.

Several equities research analysts recently weighed in on ERII shares. TheStreet upgraded shares of Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. JMP Securities reiterated a “buy” rating and set a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 11th. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Finally, Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $14.67.

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About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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