S&P 500 falls on pressure from retail stocks, weak jobless claims
Rodney Clemente, Senior Vice President of Water at Energy Recovery , Inc. (NASDAQ:ERII), a company with impressive gross profit margins of 66% and strong financial health according to InvestingPro analysis, recently sold 21,444 shares of the company’s common stock. The sales were executed at a weighted average price of $15.422 per share, with the transaction value totaling approximately $330,709. Following this sale, Clemente holds 111,109 shares in the company. The transactions were conducted under a pre-established Rule 10b5-1 trading plan, which Clemente adopted on December 10, 2024. With Energy Recovery’s market capitalization of $859 million and upcoming earnings announcement on February 26, investors can access comprehensive analysis and 12 additional key insights through InvestingPro’s detailed research report.
In other recent news, Seaport Global Securities initiated coverage on Energy Recovery, assigning a Buy rating and establishing a price target of $22.00. The firm highlighted the company’s strong market position in saltwater reverse osmosis desalination as a significant competitive advantage. Energy Recovery’s expansion into wastewater treatment and its development of pressure exchange technology for CO2 refrigeration are seen as key drivers for future growth. Seaport Global Securities expressed confidence in the company’s growth trajectory, particularly due to its potential impact in the supermarket industry. The analyst’s positive outlook is based on the anticipated contribution of Energy Recovery’s technology to its market presence and financial performance. The $22 price target reflects the firm’s belief in the company’s ability to capitalize on its unique market position. These developments will be closely watched by investors and industry observers to assess if Energy Recovery can meet these expectations.
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