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

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 724 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $14.59, for a total value of $10,563.16. Following the transaction, the senior vice president directly owned 90,950 shares in the company, valued at $1,326,960.50. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Energy Recovery Stock Up 2.2%

ERII stock traded up $0.34 during mid-day trading on Monday, reaching $15.81. 273,670 shares of the company traded hands, compared to its average volume of 308,760. The firm’s 50 day moving average price is $14.34 and its 200 day moving average price is $14.74. The stock has a market cap of $837.46 million, a price-to-earnings ratio of 46.50 and a beta of 1.09. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $18.32.

Analyst Ratings Changes

Several research firms have commented on ERII. B. Riley Financial reissued a “neutral” rating on shares of Energy Recovery in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Recovery in a research report on Monday, December 29th. Finally, Loop Capital set a $18.20 target price on Energy Recovery in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Energy Recovery presently has an average rating of “Moderate Buy” and an average target price of $17.07.

Institutional Trading of Energy Recovery

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wexford Capital LP bought a new position in Energy Recovery in the 3rd quarter valued at $27,000. Hantz Financial Services Inc. grew its position in Energy Recovery by 2,581.9% during the third quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,859 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Energy Recovery in the 2nd quarter worth about $37,000. State of Alaska Department of Revenue purchased a new stake in shares of Energy Recovery in the 3rd quarter valued at about $46,000. Finally, Comerica Bank boosted its position in shares of Energy Recovery by 150.5% during the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 2,324 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

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.