Energy Recovery (NASDAQ:ERII) Insider William Yeung Sells 33,554 Shares

Key Points

• Insider William Yeung of Energy Recovery sold 33,554 shares at an average price of $14.51, totaling approximately $486,869, resulting in a 25.63% reduction in his ownership stake.
• Energy Recovery's stock experienced a 1.3% increase to $14.55, with a current market capitalization of $774.03 million and a PE ratio of 34.64.
• Analyst ratings for Energy Recovery are generally positive, with a consensus rating of "Buy" and a target price of approximately $18.67.

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) insider William Yeung sold 33,554 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $14.51, for a total value of $486,868.54. Following the transaction, the insider owned 97,369 shares of the company's stock, valued at $1,412,824.19. This represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Energy Recovery Trading Up 1.3%

Energy Recovery stock traded up $0.19 during mid-day trading on Monday, hitting $14.55. The stock had a trading volume of 397,088 shares, compared to its average volume of 419,245. The stock has a market capitalization of $774.03 million, a PE ratio of 34.64 and a beta of 1.01. Energy Recovery, Inc. has a 12 month low of $10.86 and a 12 month high of $20.27. The stock has a 50-day simple moving average of $13.95 and a two-hundred day simple moving average of $14.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its stake in shares of Energy Recovery by 4.5% in the fourth quarter. Northern Trust Corp now owns 559,587 shares of the industrial products company's stock valued at $8,226,000 after buying an additional 24,299 shares during the period. Jane Street Group LLC lifted its stake in shares of Energy Recovery by 155.0% in the 4th quarter. Jane Street Group LLC now owns 79,280 shares of the industrial products company's stock valued at $1,165,000 after purchasing an additional 48,191 shares during the period. Bank of America Corp DE lifted its stake in shares of Energy Recovery by 1.9% in the 4th quarter. Bank of America Corp DE now owns 195,607 shares of the industrial products company's stock valued at $2,875,000 after purchasing an additional 3,735 shares during the period. Deutsche Bank AG raised its stake in Energy Recovery by 15.7% during the fourth quarter. Deutsche Bank AG now owns 300,317 shares of the industrial products company's stock valued at $4,415,000 after buying an additional 40,811 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Energy Recovery in the fourth quarter worth $503,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

Wall Street Analyst Weigh In

ERII has been the topic of several recent analyst reports. B. Riley boosted their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $18.67.

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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