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SAN LEANDRO, Calif.—Arve Hanstveit, a director at Energy Recovery , Inc. (NASDAQ:ERII), recently sold 50,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $16.339 per share, totaling approximately $817,000. Following this transaction, Hanstveit retains ownership of 693,182 shares in the company. The sale involved multiple trades with prices ranging from $16.20 to $16.665 per share.The transaction comes as Energy Recovery demonstrates strong financial fundamentals, with a robust gross profit margin of 67% and healthy liquidity metrics. According to InvestingPro analysis, the company holds more cash than debt and maintains impressive profitability metrics, though it currently trades at relatively high valuation multiples. For deeper insights into insider trading patterns and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Energy Recovery reported its Q4 2024 earnings, with an impressive earnings per share (EPS) of $0.50, surpassing analysts’ expectations of $0.40. However, the company’s revenue came in slightly below projections at $67.1 million, compared to the anticipated $68.51 million. Following the earnings report, Energy Recovery completed a $50 million share buyback and announced plans for an additional $30 million buyback. The company is also expanding its CO2 system into new markets, including Japan and South Africa, as part of its strategic growth initiatives. In terms of analyst activity, Seaport Global Securities maintained a Buy rating on Energy Recovery, with a price target of $22.00, emphasizing the company’s operational improvements and management’s focus on manufacturing efficiencies. CEO David Moon expressed confidence in the company’s strategic direction, while CFO Mike Mancini highlighted ongoing manufacturing transformations to enhance efficiency and reduce costs. Despite potential challenges such as tariff risks in China, Energy Recovery remains optimistic about its growth prospects in 2025, particularly in its wastewater business.
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