William Yeung Sells 890 Shares of Energy Recovery (NASDAQ:ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) insider William Yeung sold 890 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $14.59, for a total transaction of $12,985.10. Following the completion of the sale, the insider owned 78,854 shares in the company, valued at $1,150,479.86. This represents a 1.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, February 6th, William Yeung sold 646 shares of Energy Recovery stock. The stock was sold at an average price of $15.14, for a total transaction of $9,780.44.
• On Monday, February 2nd, William Yeung sold 729 shares of Energy Recovery stock. The shares were sold at an average price of $14.46, for a total value of $10,541.34.
• On Wednesday, January 28th, William Yeung sold 7,271 shares of Energy Recovery stock. The stock was sold at an average price of $14.55, for a total value of $105,793.05.

Energy Recovery Stock Down 1.4%

Shares of ERII opened at $15.59 on Wednesday. The stock has a market cap of $825.80 million, a PE ratio of 45.85 and a beta of 1.09. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $18.32. The business has a 50-day simple moving average of $14.39 and a two-hundred day simple moving average of $14.76.

Analysts Set New Price Targets

ERII has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Recovery in a research note on Monday, December 29th. Loop Capital set a $18.20 target price on Energy Recovery in a report on Monday, November 10th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Energy Recovery in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.07.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds have recently bought and sold shares of ERII. Alpha Wave Global LP boosted its position in Energy Recovery by 132.2% during the second quarter. Alpha Wave Global LP now owns 714,321 shares of the industrial products company’s stock valued at $9,129,000 after acquiring an additional 406,700 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Energy Recovery by 32.2% in the 3rd quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock valued at $20,165,000 after purchasing an additional 318,584 shares during the period. Royce & Associates LP acquired a new position in shares of Energy Recovery in the 3rd quarter valued at about $4,898,000. Amundi boosted its position in shares of Energy Recovery by 87.8% during the 3rd quarter. Amundi now owns 673,131 shares of the industrial products company’s stock valued at $10,515,000 after purchasing an additional 314,752 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Energy Recovery by 146.0% during the second quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company’s stock worth $5,871,000 after purchasing an additional 272,648 shares during the period. Institutional investors own 83.58% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.