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 the firm’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $17.50, for a total value of $61,775.00. Following the completion of the transaction, the insider owned 97,369 shares in the company, valued at $1,703,957.50. The trade was a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, October 24th, William Yeung sold 9,168 shares of Energy Recovery stock. The stock was sold at an average price of $18.00, for a total value of $165,024.00.
• On Monday, October 20th, William Yeung sold 3,530 shares of Energy Recovery stock. The stock was sold at an average price of $17.00, for a total value of $60,010.00.
• 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 Down 2.9%

NASDAQ:ERII opened at $17.59 on Tuesday. The stock’s 50-day simple moving average is $15.30 and its 200 day simple moving average is $14.09. The firm has a market capitalization of $935.75 million, a PE ratio of 41.88 and a beta of 1.02. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27.

Institutional Trading of Energy Recovery

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

Analysts Set New Price Targets

Several analysts recently weighed in on ERII shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. B. Riley raised their price objective 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, CJS Securities started coverage on Energy Recovery in a research note on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Energy Recovery has an average rating of “Buy” and an average 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.