Energy Recovery (NASDAQ:ERII) SVP Rodney Clemente Sells 724 Shares

by · The Cerbat Gem

Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) SVP Rodney Clemente sold 724 shares of Energy Recovery stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $14.59, for a total value of $10,563.16. Following the sale, the senior vice president directly owned 90,950 shares of the company’s stock, valued at approximately $1,326,960.50. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Energy Recovery Stock Performance

NASDAQ:ERII traded up $0.34 during trading hours on Monday, reaching $15.81. The company’s stock had a trading volume of 273,670 shares, compared to its average volume of 308,760. The firm has a market capitalization of $837.46 million, a price-to-earnings ratio of 46.50 and a beta of 1.09. The firm has a 50-day simple moving average of $14.34 and a 200-day simple moving average of $14.74. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $18.32.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on Energy Recovery

Institutional Trading of Energy Recovery

Institutional investors have recently added to or reduced their stakes in the business. Alpha Wave Global LP raised its position in Energy Recovery by 132.2% in the 2nd quarter. Alpha Wave Global LP now owns 714,321 shares of the industrial products company’s stock worth $9,129,000 after buying an additional 406,700 shares during the last quarter. Legal & General Group Plc boosted its holdings in Energy Recovery by 32.2% in the third quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock worth $20,165,000 after purchasing an additional 318,584 shares during the last quarter. Royce & Associates LP bought a new position in shares of Energy Recovery during the 3rd quarter valued at $4,898,000. Amundi boosted its stake in shares of Energy Recovery by 87.8% in the 3rd quarter. Amundi now owns 673,131 shares of the industrial products company’s stock worth $10,515,000 after buying an additional 314,752 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Energy Recovery by 146.0% in the second quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company’s stock valued at $5,871,000 after acquiring an additional 272,648 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Recovery

(Get Free Report)

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.

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