Energy Recovery (NASDAQ:ERII) Issues Earnings Results

Energy Recovery (NASDAQ:ERII) announced its earnings results on Wednesday. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01, Briefing.com reports. The company had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 9.07%. Energy Recovery’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share.

Energy Recovery Trading Up 0.7 %

Shares of ERII traded up $0.12 during trading hours on Friday, reaching $17.98. The stock had a trading volume of 88,678 shares, compared to its average volume of 408,545. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $19.94. The firm has a 50-day simple moving average of $17.16 and a 200 day simple moving average of $15.26. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23.

Insider Activity

In other Energy Recovery news, CEO David W. Moon bought 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $16.00 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 32,750 shares in the company, valued at $524,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Energy Recovery news, CEO David W. Moon bought 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $16.00 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 32,750 shares in the company, valued at $524,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,581 shares of company stock valued at $351,936 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ERII. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James upgraded Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Tuesday, July 9th.

About Energy Recovery

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.