Energy Recovery (NASDAQ:ERII) Insider William Yeung Sells 9,168 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 9,168 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $18.00, for a total transaction of $165,024.00. Following the sale, the insider owned 97,369 shares of the company’s stock, valued at approximately $1,752,642. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, October 23rd, William Yeung sold 3,530 shares of Energy Recovery stock. The shares were sold at an average price of $17.50, for a total transaction of $61,775.00.
• On Monday, October 20th, William Yeung sold 3,530 shares of Energy Recovery stock. The shares were sold at an average price of $17.00, for a total transaction 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 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 Stock Down 2.9%

Shares of ERII stock opened at $17.59 on Tuesday. The company has a 50 day moving average price of $15.30 and a 200-day moving average price of $14.09. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The firm has a market capitalization of $935.75 million, a PE ratio of 41.88 and a beta of 1.02.

Hedge Funds Weigh In On Energy Recovery

Institutional investors and hedge funds have recently made changes to their positions in the business. Select Equity Group L.P. lifted its holdings in Energy Recovery by 403.5% during the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company’s stock valued at $10,601,000 after purchasing an additional 534,662 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Energy Recovery during the first quarter valued at approximately $430,000. Conestoga Capital Advisors LLC lifted its holdings in Energy Recovery by 25.6% during the second quarter. Conestoga Capital Advisors LLC now owns 112,420 shares of the industrial products company’s stock valued at $1,437,000 after purchasing an additional 22,895 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Energy Recovery by 2.0% during the second quarter. Nordea Investment Management AB now owns 133,592 shares of the industrial products company’s stock valued at $1,721,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in 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 valued at $55,534,000 after purchasing an additional 242,494 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ERII. B. Riley lifted their price target 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. Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a report on Tuesday, October 14th. Finally, CJS Securities initiated coverage on shares of Energy Recovery in a report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price 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.