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Investing in Energy Recovery Inc (ERII) Is Getting More Attractive

Energy Recovery Inc’s recently made public that its Chief Financial Officer Ballard Joshua unloaded Company’s shares for reported $14667.0 on Mar 11 ’24. In the deal valued at $14.98 per share,979 shares were sold. As a result of this transaction, Ballard Joshua now holds 44,427 shares worth roughly $0.66 million.

Then, Yeung William sold 978 shares, generating $14,652 in total proceeds. Upon selling the shares at $14.98, the Chief Legal Officer now owns 87,303 shares.

Before that, Clemente Rodney sold 825 shares. Energy Recovery Inc shares valued at $12,360 were divested by the SVP, Water at a price of $14.98 per share. As a result of the transaction, Clemente Rodney now holds 142,681 shares, worth roughly $2.13 million.

B. Riley Securities initiated its Energy Recovery Inc [ERII] rating to a Buy in a research note published on November 17, 2022; the price target was $28. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in early November from “a Mkt perform” to “an Outperform”. Raymond James also remained covering ERII and has decreased its forecast on July 07, 2021 with a “Mkt perform” recommendation from previously “an Outperform” rating. Evercore ISI revised its rating on January 04, 2021. It rated ERII as “an Outperform” which previously was an “an In-line”.

Price Performance Review of ERII

On Tuesday, Energy Recovery Inc [NASDAQ:ERII] saw its stock jump 0.27% to $14.90. Over the last five days, the stock has gained 7.27%. Energy Recovery Inc shares have fallen nearly -20.91% since the year began. Nevertheless, the stocks have fallen -33.87% over the past one year. While a 52-week high of $30.76 was reached on 01/02/24, a 52-week low of $13.41 was recorded on 04/18/24. SMA at 50 days reached $14.89, while 200 days put it at $19.42. A total of 0.4 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For ERII Stock

The 24-hour chart illustrates a support level at 14.61, which if violated will result in even more drops to 14.33. On the upside, there is a resistance level at 15.13. A further resistance level may holdings at 15.36. The Relative Strength Index (RSI) on the 14-day chart is 55.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.22%. Stochastics %K at 69.07% indicates the stock is a holding.

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