Energy Recovery, Inc. (NASDAQ:ERII), saw an insider lower his position in the company today. Director Fred Olav Johannessen sold 19,500 shares at an average price of $4.24 per share.
Following this transaction, Johannessen has a total of 850,000 shares directly, while having 172,617 shares indirectly invested in Energy Recovery, Inc. (NASDAQ:ERII), a $224.16 million market cap company. Energy Recovery is engaged in developing, manufacturing and selling of energy recovery devices and circulation pumps primarily for uses in seawater desalination plants that use reverse osmosis technology. The Company develops and sells two main lines of energy recovery devices: PX pressures Exchanger devices and turbochargers. Each line includes a range of models and sizes to address the breadth of required process flow rates, plant designs and sizes.
The only significant outside involvement comes from Citadel Investment Group, the hedge fund run by Ken Griffin, which holds 170,618 shares worth about $900 thousand after raising its activity by %3259% last quarter.