Energy Recovery (NASDAQ:ERII) Announces Earnings Results

Energy Recovery (NASDAQ:ERII) released its quarterly earnings data on Wednesday. The industrial products company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01, Briefing.com reports. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS.

Energy Recovery Trading Up 0.1 %

Shares of Energy Recovery stock traded up $0.02 during trading hours on Thursday, reaching $17.88. The stock had a trading volume of 190,272 shares, compared to its average volume of 408,347. The stock’s 50 day moving average is $17.16 and its 200 day moving average is $15.24. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $19.94. The firm has a market capitalization of $1.03 billion, a PE ratio of 52.53 and a beta of 1.23.

Wall Street Analyst Weigh In

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

Insider Activity

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the sale, the senior vice president now directly owns 133,823 shares in the company, valued at approximately $2,406,137.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at $1,565,204.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,581 shares of company stock worth $351,936 in the last ninety days. Company insiders own 4.10% of the company’s stock.

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.