Energy Recovery (NASDAQ:ERII) Insider Sells $233,200.86 in Stock

Key Points

• William Yeung, an insider at Energy Recovery, sold 15,454 shares of stock for approximately $233,200.86, reducing his ownership by 13.70% to 97,369 shares.
• The stock price of Energy Recovery has seen a trading increase of 1.8%, reaching $14.95 per share, with a market capitalization of $795.34 million.
• Institutional investors own 83.58% of Energy Recovery's stock, with significant stake increases from firms like Select Equity Group and Alpha Wave Global.

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) insider William Yeung sold 15,454 shares of Energy Recovery stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.09, for a total transaction of $233,200.86. Following the sale, the insider owned 97,369 shares in the company, valued at approximately $1,469,298.21. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 Trading Up 1.8%

Shares of NASDAQ ERII traded up $0.26 during midday trading on Monday, reaching $14.95. The company's stock had a trading volume of 395,966 shares, compared to its average volume of 422,785. The company has a market cap of $795.34 million, a price-to-earnings ratio of 35.60 and a beta of 1.01. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The company has a 50 day moving average price of $14.14 and a 200 day moving average price of $14.04.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently added to or reduced their stakes in ERII. Select Equity Group L.P. raised its stake in Energy Recovery by 403.5% in the 1st quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock valued at $10,601,000 after acquiring an additional 534,662 shares during the period. Alpha Wave Global LP boosted its holdings in shares of Energy Recovery by 132.2% during the 2nd quarter. Alpha Wave Global LP now owns 714,321 shares of the industrial products company's stock valued at $9,129,000 after acquiring an additional 406,700 shares in the last quarter. Kopion Asset Management LLC bought a new position in Energy Recovery during the 2nd quarter worth approximately $3,870,000. Qube Research & Technologies Ltd grew its stake in shares of Energy Recovery by 146.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company's stock valued at $5,871,000 after buying an additional 272,648 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in 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 valued at $69,025,000 after purchasing an additional 262,151 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ERII shares. B. Riley lifted their price target on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. CJS Securities initiated coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They set a "market outperform" rating and a $19.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $18.75.

Energy Recovery Company Profile

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.

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