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

Key Points

• William Yeung, an insider at Energy Recovery, sold 3,530 shares of stock for a total of $60,010 on October 20, reducing his position by 3.50% and leaving him with 97,369 shares.
• Energy Recovery's stock price increased by 0.3% to reach $17.22, with a market cap of approximately $916.07 million.
• Wall Street analysts have a consensus rating of "Buy" for Energy Recovery, with a price target averaging $18.75, indicating growth potential for the company.

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) insider William Yeung sold 3,530 shares of Energy Recovery stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $17.00, for a total value of $60,010.00. Following the transaction, the insider directly owned 97,369 shares in the company, valued at approximately $1,655,273. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value 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 value 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 shares were sold at an average price of $14.51, for a total value of $486,868.54.

Energy Recovery Stock Up 0.3%

Shares of ERII traded up $0.06 during trading hours on Wednesday, reaching $17.22. The company's stock had a trading volume of 392,766 shares, compared to its average volume of 425,242. The firm has a market cap of $916.07 million, a price-to-earnings ratio of 41.00 and a beta of 1.02. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27. The company has a 50 day moving average of $15.09 and a two-hundred day moving average of $14.04.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ERII. CJS Securities began coverage on Energy Recovery in a report on Tuesday, September 16th. They issued a "market outperform" rating and a $19.00 target price on the stock. B. Riley boosted their price target on Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Energy Recovery in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Energy Recovery has an average rating of "Buy" and a consensus price target of $18.75.

Institutional Trading of Energy Recovery

A number of institutional investors and hedge funds have recently modified their holdings of ERII. Trust Co. of Toledo NA OH acquired a new position in Energy Recovery in the 2nd quarter valued at $37,000. Tower Research Capital LLC TRC lifted its position in Energy Recovery by 172.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock worth $77,000 after acquiring an additional 3,803 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Energy Recovery during the second quarter valued at about $80,000. Russell Investments Group Ltd. grew its position in shares of Energy Recovery by 5,662.3% in the first quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock valued at $138,000 after purchasing an additional 8,550 shares during the last quarter. Finally, Groupe la Francaise bought a new position in shares of Energy Recovery in the second quarter worth about $153,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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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