Short Interest in Energy Recovery, Inc. (NASDAQ:ERII) Decreases By 6.4%

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

Energy Recovery Stock Down 2.6 %

Shares of ERII opened at $15.81 on Wednesday. The firm has a market capitalization of $906.39 million, a PE ratio of 46.50 and a beta of 1.23. The firm has a 50-day moving average price of $15.38 and a 200 day moving average price of $14.67. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $25.65.

Analyst Ratings Changes

ERII has been the topic of several analyst reports. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 9th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Insider Activity

In related news, CEO David W. Moon purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now 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 available at the SEC website. In related news, CEO David W. Moon bought 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $16.00 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction 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 owns 763,182 shares in the company, valued at $10,074,002.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,444 shares of company stock valued at $387,536. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Energy Recovery

A number of institutional investors have recently made changes to their positions in ERII. Hantz Financial Services Inc. bought a new stake in Energy Recovery during the second quarter worth approximately $26,000. Sentry Investment Management LLC raised its stake in shares of Energy Recovery by 23.2% in the 1st 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 acquired a new stake in shares of Energy Recovery in the first quarter valued at $158,000. Lazard Asset Management LLC boosted its stake in 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 buying an additional 3,076 shares in the last quarter. Finally, AXA S.A. acquired a new position in Energy Recovery during the second quarter worth about $149,000. 83.58% of the stock is owned by institutional investors and hedge funds.

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.