Energy Recovery, Inc. (NASDAQ:ERII) Director Sells $404,914.50 in Stock

Energy Recovery, Inc. (NASDAQ:ERII – Get Rating) Director Sherif Foda sold 15,879 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $25.50, for a total transaction of $404,914.50. Following the sale, the director now directly owns 9,619 shares of the company’s stock, valued at approximately $245,284.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Energy Recovery Trading Down 3.8 %

Shares of NASDAQ ERII traded down $0.97 during midday trading on Friday, reaching $24.44. The company had a trading volume of 1,700,861 shares, compared to its average volume of 373,025. The business’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $20.51. The stock has a market cap of $1.37 billion, a P/E ratio of 121.01 and a beta of 1.20. Energy Recovery, Inc. has a 1 year low of $16.92 and a 1 year high of $26.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Founders Capital Management increased its stake in shares of Energy Recovery by 27.8% in the second quarter. Founders Capital Management now owns 2,300 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 500 shares during the period. Lazard Asset Management LLC acquired a new stake in Energy Recovery during the first quarter valued at $49,000. Quantbot Technologies LP purchased a new position in shares of Energy Recovery in the second quarter worth about $125,000. Daiwa Securities Group Inc. lifted its stake in shares of Energy Recovery by 45.7% in the first quarter. Daiwa Securities Group Inc. now owns 6,278 shares of the industrial products company’s stock worth $126,000 after buying an additional 1,970 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Energy Recovery in the first quarter worth about $136,000. Hedge funds and other institutional investors own 73.62% of the company’s stock.

Wall Street Analyst Weight In

Separately, Evercore ISI increased their target price on shares of Energy Recovery to $27.00 in a research report on Monday, August 15th.

Energy Recovery Company Profile

(Get Rating)

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. The company operates through Water and Emerging Technologies segments. It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services.

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