Energy Recovery, Inc. (NASDAQ:ERII)’s share price reached a new 52-week high on Wednesday . The company traded as high as $11.06 and last traded at $11.01, with a volume of 22482 shares trading hands. The stock had previously closed at $10.48.

ERII has been the subject of a number of recent analyst reports. TheStreet upgraded Energy Recovery from a “c+” rating to a “b” rating in a research report on Friday, May 3rd. ValuEngine raised Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. JMP Securities reissued a “buy” rating and issued a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 11th. Finally, BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.33.

The company has a market capitalization of $556.23 million, a PE ratio of 55.10 and a beta of 4.77. The company has a quick ratio of 4.55, a current ratio of 4.85 and a debt-to-equity ratio of 0.10.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $19.80 million during the quarter, compared to the consensus estimate of $15.98 million. Energy Recovery had a return on equity of 11.72% and a net margin of 39.35%. The business’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) EPS. As a group, sell-side analysts anticipate that Energy Recovery, Inc. will post 0.25 EPS for the current year.

In other news, VP Rodney Clemente sold 53,036 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $8.85, for a total transaction of $469,368.60. Following the completion of the sale, the vice president now directly owns 69,564 shares of the company’s stock, valued at approximately $615,641.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 139,042 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.50, for a total value of $1,181,857.00. Following the sale, the director now directly owns 1,134,842 shares of the company’s stock, valued at $9,646,157. The disclosure for this sale can be found here. Insiders have sold a total of 260,569 shares of company stock valued at $2,324,101 over the last ninety days. Company insiders own 23.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of Energy Recovery by 44.4% in the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 2,294 shares during the period. BNP Paribas Arbitrage SA raised 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 acquiring an additional 7,488 shares during the period. Metropolitan Life Insurance Co. NY raised 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 acquiring an additional 7,083 shares during the period. ETF Managers Group LLC raised its position in 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 worth $107,000 after acquiring an additional 2,163 shares during the period. Finally, Bank of Montreal Can raised its position in Energy Recovery by 6,958.2% during the fourth quarter. Bank of Montreal Can now owns 17,575 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 17,326 shares during the period. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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Energy Recovery Company Profile (NASDAQ:ERII)

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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