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Rodney Clemente, Senior Vice President of Water at Energy Recovery , Inc. (NASDAQ:ERII), recently reported the sale of company stock. The company, currently valued at approximately $900 million, maintains impressive gross profit margins of 67% and holds more cash than debt on its balance sheet, according to InvestingPro data. According to a recent SEC filing, Clemente sold 1,843 shares on March 11 at an average price of $16.23, totaling $29,911. Following this transaction, Clemente holds 108,472 shares of Energy Recovery.
Additionally, on March 10, Clemente handled a tax obligation by having 794 shares withheld at a price of $16.37 per share, valued at $12,997. These transactions were carried out under a pre-established Rule 10b5-1 trading plan.
In other recent news, Energy Recovery reported its Q4 2024 earnings, revealing an earnings per share (EPS) of $0.50, surpassing the forecasted $0.40. However, the company’s revenue was slightly below expectations, reaching $67.1 million compared to the anticipated $68.51 million. Energy Recovery also completed a $50 million share buyback and announced plans for an additional $30 million buyback. The company is expanding its CO2 system into new markets such as Japan and South Africa, alongside ongoing manufacturing transformations aimed at improving efficiency and reducing costs. Seaport Global Securities maintained its Buy rating on Energy Recovery, with a price target of $22, citing the company’s operational improvements as a key driver for enhanced financial performance. Analyst Jeff Campbell from Seaport Global highlighted the current management’s focus on maximizing manufacturing efficiencies, which contrasts with previous leadership’s approach. Energy Recovery’s strategic focus on product innovation and market expansion, particularly in the wastewater business, positions it well for future growth. Despite potential challenges, such as tariff risks in China, the company remains optimistic about its growth prospects for 2025.
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