Energy Recovery (NASDAQ:ERII) Insider Sells $58,245.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 3,530 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $16.50, for a total transaction of $58,245.00. Following the completion of the sale, the insider directly owned 97,369 shares of the company’s stock, valued at approximately $1,606,588.50. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

William Yeung also recently made the following trade(s):

• On Friday, October 3rd, William Yeung sold 3,567 shares of Energy Recovery stock. The shares were sold at an average price of $16.00, for a total transaction of $57,072.00.
• On Thursday, September 18th, William Yeung sold 15,454 shares of Energy Recovery stock. The shares were sold at an average price of $15.09, for a total value of $233,200.86.
• On Thursday, September 11th, William Yeung sold 33,554 shares of Energy Recovery stock. The stock was sold at an average price of $14.51, for a total value of $486,868.54.

Energy Recovery Stock Down 0.1%

Shares of NASDAQ ERII opened at $16.76 on Monday. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The firm has a market cap of $891.63 million, a PE ratio of 39.91 and a beta of 1.02. The business has a fifty day simple moving average of $14.91 and a two-hundred day simple moving average of $13.97.

Institutional Trading of Energy Recovery

A number of institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of Energy Recovery by 5.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock worth $69,025,000 after acquiring an additional 262,151 shares in the last quarter. Vanguard Group Inc. grew its holdings in Energy Recovery by 7.5% in the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock worth $55,534,000 after purchasing an additional 242,494 shares during the last quarter. Legal & General Group Plc increased its position in shares of Energy Recovery by 12.9% during the second quarter. Legal & General Group Plc now owns 989,154 shares of the industrial products company’s stock worth $12,641,000 after purchasing an additional 113,141 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Energy Recovery by 42.6% during the 2nd quarter. Invesco Ltd. now owns 861,344 shares of the industrial products company’s stock valued at $11,008,000 after purchasing an additional 257,266 shares during the last quarter. Finally, Select Equity Group L.P. boosted its position in shares of Energy Recovery by 15.4% in the 2nd quarter. Select Equity Group L.P. now owns 769,706 shares of the industrial products company’s stock worth $9,837,000 after purchasing an additional 102,549 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ERII shares. B. Riley increased their target price on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. Finally, CJS Securities started coverage on shares of Energy Recovery in a research note on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $18.75.

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.