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 shares were sold at an average price of $14.59, for a total value of $10,563.16. Following the transaction, the senior vice president owned 90,950 shares of the company’s stock, valued at approximately $1,326,960.50. This represents a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Energy Recovery Stock Down 1.4%

Shares of ERII stock opened at $15.59 on Wednesday. The firm has a market capitalization of $825.80 million, a price-to-earnings ratio of 45.85 and a beta of 1.09. The stock has a fifty day moving average of $14.39 and a 200 day moving average of $14.76. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $18.32.

Wall Street Analysts Forecast Growth

ERII has been the topic of several research analyst reports. B. Riley Financial reiterated a “neutral” rating on shares of Energy Recovery in a research report on Thursday, November 6th. Loop Capital set a $18.20 price objective on Energy Recovery in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Recovery in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.07.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Energy Recovery by 4.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,984 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 613 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Energy Recovery by 2.6% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 36,649 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 914 shares in the last quarter. S&CO Inc. lifted its holdings in shares of Energy Recovery by 9.1% during the third quarter. S&CO Inc. now owns 12,000 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Energy Recovery by 2.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,968 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Energy Recovery in the 3rd quarter worth approximately $27,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

About Energy Recovery

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.