Energy Recovery (NASDAQ:ERII) Insider William Yeung Sells 3,530 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 3,530 shares of Energy Recovery stock in a transaction on Monday, October 20th. The stock was sold at an average price of $17.00, for a total transaction of $60,010.00. Following the sale, the insider owned 97,369 shares in the company, valued at $1,655,273. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, October 16th, William Yeung sold 3,530 shares of Energy Recovery stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $14.51, for a total transaction of $486,868.54.

Energy Recovery Price Performance

ERII opened at $17.22 on Thursday. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $20.27. The firm’s fifty day moving average price is $15.09 and its two-hundred day moving average price is $14.04. The company has a market capitalization of $916.10 million, a P/E ratio of 41.00 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Energy Recovery by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock valued at $69,025,000 after buying an additional 262,151 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Energy Recovery by 7.5% in the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock valued at $55,534,000 after buying an additional 242,494 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Energy Recovery by 12.9% in the second quarter. Legal & General Group Plc now owns 989,154 shares of the industrial products company’s stock valued at $12,641,000 after buying an additional 113,141 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Energy Recovery by 42.6% in the second quarter. Invesco Ltd. now owns 861,344 shares of the industrial products company’s stock valued at $11,008,000 after buying an additional 257,266 shares during the last quarter. Finally, Select Equity Group L.P. raised its holdings in shares of Energy Recovery by 15.4% in the second quarter. Select Equity Group L.P. now owns 769,706 shares of the industrial products company’s stock valued at $9,837,000 after buying an additional 102,549 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ERII. B. Riley lifted their price objective on Energy Recovery from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a report on Tuesday, October 14th. Finally, CJS Securities began coverage on Energy Recovery in a report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.75.

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.