SG Americas Securities LLC Sells 13,611 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

SG Americas Securities LLC reduced its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 49.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,030 shares of the industrial products company’s stock after selling 13,611 shares during the period. SG Americas Securities LLC’s holdings in Energy Recovery were worth $186,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sentry Investment Management LLC grew its holdings in 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 worth $120,000 after buying an additional 1,438 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Energy Recovery in the first quarter valued at about $158,000. Lazard Asset Management LLC lifted its position in shares of Energy Recovery by 39.6% during the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 3,076 shares in the last quarter. Martin Currie Ltd. purchased a new position in Energy Recovery during the fourth quarter worth about $276,000. Finally, Clear Creek Financial Management LLC bought a new stake in Energy Recovery in the 1st quarter worth about $244,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ERII shares. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Tuesday, July 9th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Energy Recovery Stock Up 2.8 %

Energy Recovery stock opened at $18.23 on Friday. The firm has a 50 day moving average price of $14.81 and a 200-day moving average price of $14.62. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $28.02. The company has a market capitalization of $1.05 billion, a P/E ratio of 53.62 and a beta of 1.23.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon bought 3,000 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now directly owns 32,750 shares in the company, valued at approximately $524,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Energy Recovery news, CEO David W. Moon bought 3,000 shares of Energy Recovery stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at $524,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Joshua Ballard sold 4,051 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $13.54, for a total transaction of $54,850.54. Following the completion of the sale, the chief financial officer now directly owns 40,376 shares in the company, valued at approximately $546,691.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,495 shares of company stock valued at $442,386. Company insiders own 4.10% of the company’s stock.

About Energy Recovery

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.