Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 2,480,000 shares, a decline of 6.4% from the July 31st total of 2,650,000 shares. Based on an average daily trading volume, of 399,700 shares, the days-to-cover ratio is currently 6.2 days. Currently, 4.4% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
ERII has been the topic of several recent analyst reports. StockNews.com upgraded Energy Recovery from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an "outperform" rating to a "strong-buy" rating and set a $21.00 price objective on the stock in a report on Tuesday, July 9th.
Check Out Our Latest Analysis on ERII
Insider Transactions at Energy Recovery
In other Energy Recovery news, CEO David W. Moon purchased 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares of the company's stock, valued at $524,000. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $13.20, for a total value of $264,000.00. Following the completion of the sale, the director now directly owns 763,182 shares of the company's stock, valued at approximately $10,074,002.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Moon purchased 3,000 shares of Energy Recovery stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the purchase, the chief executive officer now owns 32,750 shares in the company, valued at $524,000. The disclosure for this purchase can be found here. Insiders sold 28,444 shares of company stock valued at $387,536 in the last 90 days. 4.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Brown Capital Management LLC raised its position in Energy Recovery by 64.7% during the fourth quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company's stock valued at $82,085,000 after acquiring an additional 1,711,129 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Energy Recovery by 1.8% in the first quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company's stock valued at $47,519,000 after purchasing an additional 53,720 shares in the last quarter. KBC Group NV increased its stake in Energy Recovery by 17.2% in the fourth quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company's stock valued at $20,458,000 after acquiring an additional 159,143 shares during the period. Robeco Schweiz AG grew its stake in shares of Energy Recovery by 21.2% in the 4th quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company's stock valued at $11,648,000 after purchasing an additional 108,130 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Energy Recovery by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,205 shares of the industrial products company's stock worth $8,275,000 after acquiring an additional 5,550 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.
Energy Recovery Stock Performance
Shares of ERII stock traded down $0.20 during trading hours on Monday, hitting $16.24. 357,500 shares of the company were exchanged, compared to its average volume of 428,939. The stock has a market capitalization of $931.04 million, a price-to-earnings ratio of 47.76 and a beta of 1.23. The business's 50-day simple moving average is $15.31 and its two-hundred day simple moving average is $14.67. Energy Recovery has a one year low of $12.26 and a one year high of $28.00.
Energy Recovery Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Energy Recovery, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energy Recovery wasn't on the list.
While Energy Recovery currently has a "Strong Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
