Insider Selling: Energy Recovery (NASDAQ:ERII) Insider Sells $60,010.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 3,530 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $17.00, for a total transaction of $60,010.00. Following the transaction, the insider directly owned 97,369 shares in the company, valued at $1,655,273. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, October 16th, William Yeung sold 3,530 shares of Energy Recovery stock. The shares were sold at an average price of $16.50, for a total transaction of $58,245.00.
• 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 transaction of $233,200.86.
• On Thursday, September 11th, William Yeung sold 33,554 shares of Energy Recovery stock. The shares were sold at an average price of $14.51, for a total transaction of $486,868.54.

Energy Recovery Stock Performance

NASDAQ ERII opened at $18.11 on Friday. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The company has a market capitalization of $963.42 million, a price-to-earnings ratio of 43.12 and a beta of 1.02. The company’s 50-day simple moving average is $15.23 and its two-hundred day simple moving average is $14.09.

Analyst Ratings Changes

ERII has been the topic of a number of recent analyst reports. B. Riley raised their price target on shares of Energy Recovery from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. CJS Securities initiated coverage on shares of Energy Recovery in a report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Energy Recovery in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Energy Recovery currently has an average rating of “Buy” and an average price target of $18.75.

Institutional Trading of Energy Recovery

A number of institutional investors have recently bought and sold shares of the stock. Clear Creek Financial Management LLC boosted its stake in Energy Recovery by 5.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 850 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Energy Recovery by 2.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,968 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 1,458 shares in the last quarter. Redmond Asset Management LLC boosted its stake in Energy Recovery by 0.8% in the 1st quarter. Redmond Asset Management LLC now owns 238,541 shares of the industrial products company’s stock worth $3,790,000 after purchasing an additional 1,881 shares in the last quarter. Nordea Investment Management AB boosted its stake in Energy Recovery by 2.0% in the 2nd quarter. Nordea Investment Management AB now owns 133,592 shares of the industrial products company’s stock worth $1,721,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Energy Recovery by 11.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,461 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 2,623 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.