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 business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the completion of the sale, the insider owned 97,369 shares in the company, valued at approximately $1,412,824.19. This trade represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Energy Recovery Stock Down 3.0%

Energy Recovery stock traded down $0.45 during midday trading on Friday, hitting $14.69. The company's stock had a trading volume of 1,136,452 shares, compared to its average volume of 382,393. The stock's 50-day moving average price is $14.11 and its 200-day moving average price is $14.07. The company has a market capitalization of $781.51 million, a PE ratio of 34.98 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.

Analysts Set New Price Targets

Several research firms have issued reports on ERII. B. Riley boosted their price objective on Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. CJS Securities began coverage on Energy Recovery in a report on Tuesday. They issued a "market outperform" rating and a $19.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Energy Recovery currently has a consensus rating of "Buy" and an average target price of $18.75.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently made changes to their positions in the company. Northern Trust Corp boosted its position in Energy Recovery by 4.5% during the fourth quarter. Northern Trust Corp now owns 559,587 shares of the industrial products company's stock worth $8,226,000 after purchasing an additional 24,299 shares during the period. Jane Street Group LLC boosted its position in Energy Recovery by 155.0% during the fourth quarter. Jane Street Group LLC now owns 79,280 shares of the industrial products company's stock worth $1,165,000 after purchasing an additional 48,191 shares during the period. Bank of America Corp DE boosted its position in Energy Recovery by 1.9% during the fourth quarter. Bank of America Corp DE now owns 195,607 shares of the industrial products company's stock worth $2,875,000 after purchasing an additional 3,735 shares during the period. Deutsche Bank AG boosted its position 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 worth $4,415,000 after purchasing an additional 40,811 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Energy Recovery during the fourth quarter worth approximately $503,000. Institutional investors own 83.58% of the company's stock.

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.