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

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 3,530 shares of Energy Recovery stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $16.50, for a total value of $58,245.00. Following the completion of the sale, the insider owned 97,369 shares in the company, valued at approximately $1,606,588.50. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 value 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 value 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 value of $486,868.54.

Energy Recovery Trading Down 0.1%

ERII stock opened at $16.76 on Friday. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The stock has a market cap of $891.60 million, a price-to-earnings ratio of 39.91 and a beta of 1.02. The business’s 50-day moving average is $14.91 and its 200 day moving average is $13.98.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ERII. CJS Securities began coverage on shares of Energy Recovery in a research note on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 target price on the stock. B. Riley raised their target price 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued 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 target price of $18.75.

Institutional Trading of Energy Recovery

Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Energy Recovery by 5.1% during the 2nd 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 period. Vanguard Group Inc. raised its position in shares of Energy Recovery by 7.5% during the 1st 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 period. Legal & General Group Plc raised its position in shares of Energy Recovery by 12.9% during the 2nd 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 period. Invesco Ltd. raised its position in shares of Energy Recovery by 42.6% during the 2nd 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 period. Finally, Select Equity Group L.P. raised its position in shares of Energy Recovery by 15.4% during the 2nd 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 period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.