Energy Recovery, Inc. (NASDAQ:ERII) CEO Buys $48,000.00 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) CEO David W. Moon bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the acquisition, the chief executive officer now owns 32,750 shares in the company, valued at $524,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Energy Recovery Trading Up 0.3 %

Energy Recovery stock traded up $0.05 during trading on Friday, hitting $16.65. 464,409 shares of the company were exchanged, compared to its average volume of 436,580. The company has a market capitalization of $954.54 million, a P/E ratio of 48.97 and a beta of 1.23. The business’s 50 day moving average is $13.92 and its 200 day moving average is $14.51. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $28.02.

Wall Street Analysts Forecast Growth

ERII has been the topic of several research reports. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Tuesday, July 9th.

Institutional Trading of Energy Recovery

Several institutional investors have recently made changes to their positions in ERII. Hantz Financial Services Inc. bought a new position in shares of Energy Recovery during the second quarter valued at about $26,000. Sentry Investment Management LLC bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $117,000. ProShare Advisors LLC purchased a new position in shares of Energy Recovery in the 1st quarter worth approximately $158,000. Lazard Asset Management LLC boosted its stake in shares of Energy Recovery by 39.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after buying an additional 3,076 shares during the last quarter. Finally, Martin Currie Ltd. bought a new position in shares of Energy Recovery in the fourth quarter valued at approximately $276,000. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

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.