William Yeung Acquires 4,770 Shares of Energy Recovery Inc. (ERII) Stock
Energy Recovery Inc. (NASDAQ:ERII) General Counsel William Yeung acquired 4,770 shares of Energy Recovery stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $48,177.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Energy Recovery Inc. (NASDAQ:ERII) opened at 10.49 on Friday. The company’s 50-day moving average price is $13.57 and its 200 day moving average price is $11.77. Energy Recovery Inc. has a one year low of $5.28 and a one year high of $16.67. The stock’s market capitalization is $549.16 million.
Institutional investors have recently added to or reduced their stakes in the stock. Bogle Investment Management L P DE acquired a new position in shares of Energy Recovery during the first quarter valued at approximately $1,227,000. California Public Employees Retirement System increased its position in shares of Energy Recovery by 27.9% in the second quarter. California Public Employees Retirement System now owns 242,400 shares of the company’s stock valued at $2,155,000 after buying an additional 52,900 shares during the last quarter. Menta Capital LLC acquired a new position in shares of Energy Recovery during the first quarter valued at approximately $107,000. Strs Ohio acquired a new position in shares of Energy Recovery during the second quarter valued at approximately $237,000. Finally, California State Teachers Retirement System acquired a new position in shares of Energy Recovery during the second quarter valued at approximately $642,000. Institutional investors own 25.86% of the company’s stock.
A number of equities research analysts have weighed in on the company. Iberia Capital assumed coverage on Energy Recovery in a report on Monday, September 26th. They issued an “outperform” rating and a $21.00 target price for the company. FBR & Co reaffirmed a “buy” rating on shares of Energy Recovery in a research report on Thursday, September 8th. Evercore ISI began coverage on Energy Recovery in a research report on Tuesday, September 27th. They set a “buy” rating and a $23.00 target price on the stock. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, September 14th. Finally, Jefferies Group raised Energy Recovery from a “hold” rating to a “buy” rating and upped their price target for the company from $8.00 to $20.00 in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Energy Recovery presently has a consensus rating of “Buy” and an average price target of $18.00.
About Energy Recovery
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.
Receive News & Stock Ratings for Energy Recovery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery Inc. and related stocks with our FREE daily email newsletter.