Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $330,666.48 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Energy Recovery Stock Performance

ERII stock opened at $14.68 on Wednesday. The company’s 50-day simple moving average is $14.80 and its 200 day simple moving average is $16.32. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27. The company has a market capitalization of $849.88 million, a PE ratio of 43.18 and a beta of 1.18.

Wall Street Analyst Weigh In

ERII has been the topic of several research reports. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. B. Riley decreased their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Evercore ISI decreased their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Scotiabank initiated coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.75.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently modified their holdings of ERII. CWM LLC grew its stake in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 4,177 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Energy Recovery in the fourth quarter valued at about $107,000. Schroder Investment Management Group acquired a new position in shares of Energy Recovery in the fourth quarter valued at about $160,000. Nebula Research & Development LLC grew its stake in Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after buying an additional 687 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in Energy Recovery during the third quarter worth about $193,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.