Stock Traders Purchase High Volume of Call Options on Energy Recovery (NASDAQ:ERII)


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Energy Recovery, Inc. (NASDAQ:ERII) was the recipient of unusually large options trading on Tuesday. Investors purchased 5,040 call options on the company. This is an increase of approximately 3,030% compared to the typical volume of 161 call options.

In other Energy Recovery news, CTO Farshad Ghasripoor sold 45,531 shares of the stock in a transaction on Friday, February 12th. The stock was sold at an average price of $15.00, for a total transaction of $682,965.00. Following the completion of the transaction, the chief technology officer now directly owns 68,204 shares in the company, valued at $1,023,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sherif Foda sold 16,726 shares of the stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $11.90, for a total value of $199,039.40. Following the transaction, the director now owns 16,726 shares of the company’s stock, valued at $199,039.40. The disclosure for this sale can be found here. Insiders have sold 207,156 shares of company stock valued at $2,933,878 in the last ninety days. Company insiders own 17.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Energy Recovery during the 4th quarter worth approximately $47,000. Founders Capital Management acquired a new position in shares of Energy Recovery during the 4th quarter worth approximately $59,000. BNP Paribas Arbitrage SA increased its position in shares of Energy Recovery by 574.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,749 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 7,452 shares during the last quarter. FIL Ltd increased its position in shares of Energy Recovery by 133.7% during the 4th quarter. FIL Ltd now owns 5,977 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 3,419 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Energy Recovery during the 3rd quarter worth approximately $92,000. Institutional investors and hedge funds own 40.06% of the company’s stock.

A number of brokerages have recently weighed in on ERII. Raymond James raised their target price on Energy Recovery from $11.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, January 8th. Zacks Investment Research lowered Energy Recovery from a “buy” rating to a “hold” rating in a research note on Wednesday, January 20th. Finally, Evercore ISI upgraded Energy Recovery from an “in-line” rating to an “outperform” rating in a research note on Monday, January 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.17.

Energy Recovery stock traded up $1.21 during mid-day trading on Tuesday, hitting $16.38. The stock had a trading volume of 26,615 shares, compared to its average volume of 239,209. The stock has a 50-day simple moving average of $14.58 and a two-hundred day simple moving average of $11.08. The stock has a market capitalization of $918.92 million, a PE ratio of 37.93 and a beta of 1.36. Energy Recovery has a 12 month low of $6.11 and a 12 month high of $15.51.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and markets various solutions for industrial fluid flow markets worldwide. The company operates through Water, and Oil & Gas segments. The Water segment designs, engineers, manufactures, and supplies various energy recovery devices (ERDs), including positive displacement isobaric ERDs and centrifugal-type ERDs; manufactures and supplies specialized high-pressure feed and circulation pumps that are used in the reverse osmosis desalination process; and provides various spare parts and repair, and field services, as well as engages in the various commissioning activities.

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