Energy Recovery, Inc. (NASDAQ:ERII) Short Interest Update

Energy Recovery, Inc. (NASDAQ:ERII) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 2,480,000 shares, a drop of 6.4% from the July 31st total of 2,650,000 shares. Based on an average daily volume of 399,700 shares, the short-interest ratio is presently 6.2 days. Currently, 4.4% of the company’s shares are sold short.

Insiders Place Their Bets

In other news, insider William Yeung sold 2,012 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the transaction, the insider now owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider William Yeung sold 2,012 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $29,435.56. Following the transaction, the insider now directly owns 85,291 shares in the company, valued at $1,247,807.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $13.20, for a total transaction of $264,000.00. Following the sale, the director now owns 763,182 shares of the company’s stock, valued at approximately $10,074,002.40. The disclosure for this sale can be found here. Insiders sold a total of 28,444 shares of company stock valued at $387,536 over the last 90 days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently bought and sold shares of ERII. Victory Capital Management Inc. increased its position in Energy Recovery by 1.3% during the 4th quarter. Victory Capital Management Inc. now owns 81,902 shares of the industrial products company’s stock valued at $1,543,000 after buying an additional 1,083 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 1,330 shares during the last quarter. Sentry Investment Management LLC increased its holdings in shares of Energy Recovery by 23.2% during the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 1,438 shares in the last quarter. Rhumbline Advisers raised its position in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after purchasing an additional 1,893 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in Energy Recovery in the 2nd quarter worth approximately $26,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ERII shares. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a 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 target for the company in a report on Tuesday, July 9th.

Energy Recovery Price Performance

ERII opened at $16.24 on Monday. The firm has a market capitalization of $937.37 million, a PE ratio of 47.76 and a beta of 1.23. The business’s 50-day moving average is $15.25 and its two-hundred day moving average is $14.67. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $28.00.

Energy Recovery Company Profile

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.