Energy Recovery , Inc. (NASDAQ:ERII) Director Robert Yu Lang Mao executed significant transactions in the company's stock, according to recent filings with the Securities and Exchange Commission. Mao sold a total of 21,045 shares of common stock at an average price of approximately $13.86, resulting in a total value of around $291,656.
The sales were conducted on May 22, 2024, and were part of a series of transactions that also included stock acquisitions. Mao purchased 27,103 shares of Energy Recovery common stock at a price of $7.79 per share, amounting to a total investment of $310,844.
The transactions come amid Mao's regular stock trading activities, with the sales and purchases reflecting changes in his investment in the company. Following the sales, Mao still holds a substantial number of shares, indicating continued confidence in Energy Recovery's prospects.
Energy Recovery, based in San Leandro, California, specializes in designing and manufacturing solutions for industrial fluid flow processes. The company's technology is used across various industries, including water, oil & gas, and chemical processing.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's performance and future. Mao's recent trades suggest a rebalancing of his holdings, with a significant amount of stock being acquired and disposed of on the same day.
The prices at which Mao sold and bought shares were based on the market's valuation at the time, with the sales conducted at a weighted average price that ranged from $13.81 to $13.95 per share. The detailed breakdown of the sales prices is available upon request, as indicated in the footnotes of the SEC filing.
For those interested in Energy Recovery's stock movements, Mao's transactions represent the latest insider activity for the company, which continues to innovate in the field of energy recovery systems and solutions.
InvestingPro Insights
As we delve into the financial metrics of Energy Recovery, Inc. (NASDAQ:ERII), some noteworthy InvestingPro Data points reveal a company that is navigating a complex market landscape. With a market capitalization of $778.54 million, Energy Recovery is a company of significant size within its sector. The P/E ratio, a measure of a company's current share price relative to its per-share earnings, stands at 38.9, while the adjusted P/E ratio for the last twelve months as of Q1 2024 is slightly higher at 39.84. This suggests that investors are willing to pay a premium for the company's earnings potential.
Additionally, the company's gross profit margin is an impressive 67.74%, reflecting the efficiency of its operations and its strong position in maintaining profitability. Despite a quarterly revenue decline of -9.78% in Q1 2024, the company has experienced a revenue growth of 19.35% over the last twelve months as of Q1 2024, indicating a solid year-over-year performance.
Energy Recovery's financial health is further underscored by two InvestingPro Tips. Firstly, the company holds more cash than debt on its balance sheet, providing it with a cushion to navigate economic uncertainties or invest in growth opportunities. Secondly, Energy Recovery's gross profit margins are impressive, which is a testament to the company's ability to manage costs and optimize its manufacturing processes effectively.
For investors and analysts seeking further insights, there are additional tips available on InvestingPro. For instance, while some analysts have revised their earnings downwards for the upcoming period, others predict the company will be profitable this year, and the stock has taken a significant hit over the last six months. Potential investors can explore these nuances in greater depth with a total of 14 InvestingPro Tips available at https://www.investing.com/pro/ERII. To gain access to this valuable information, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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