The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Energy Recovery Inc shares valued at $392,360 were sold by Clemente Rodney on Nov 07 ’24. At $20.00 per share, Clemente Rodney sold 19,618 shares. The insider’s holdings dropped to 114,205 shares worth approximately $1.79 million following the completion of this transaction.
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Also, Clemente Rodney sold 4,207 shares, netting a total of over 84,392 in proceeds. Following the sale of shares at $20.06 each, the insider now holds 106,367 shares.
Before that, Clemente Rodney had sold 3,631 shares from its account. In a trade valued at $73,176, the SVP, Water traded Energy Recovery Inc shares for $20.15 each. Upon closing the transaction, the insider’s holdings decreased to 3,631 shares, worth approximately $1.73 million.
As published in a research note from Raymond James on July 09, 2024, Energy Recovery Inc [ERII] has been rated up from an Outperform to a Strong buy and the price target has been revised to $21. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid November. As of November 08, 2022, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for ERII. Earlier on July 07, 2021, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for ERII stock which previously was a “an Outperform”.
Analyzing ERII Stock Performance
During the last five days, there has been a drop of approximately -17.74%. Over the course of the year, Energy Recovery Inc shares have dropped approximately -17.04%. Shares of the company reached a 52-week high of $20.27 on 11/08/24 and a 52-week low of $12.26 on 06/21/24. A 50-day SMA is recorded $17.78, while a 200-day SMA reached $15.50. Nevertheless, trading volume fell to 3.09 million shares from 0.71 million shares the previous day.
Support And Resistance Levels for Energy Recovery Inc (ERII)
According to the 24-hour chart, there is a support level at 15.26, which, if violated, would cause prices to drop to 14.88. In the upper region, resistance lies at 15.85. The next price resistance is at 16.07. RSI (Relative Strength Index) is 34.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.66, which suggests the price will decrease in the coming days. Percent R is at 80.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
