Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC trimmed its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 40.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,092 shares of the industrial products company’s stock after selling 132,097 shares during the quarter. Sargent Investment Group LLC owned about 0.34% of Energy Recovery worth $2,757,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after buying an additional 1,330 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Energy Recovery by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 1,433 shares during the last quarter. Nordea Investment Management AB boosted its stake in Energy Recovery by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock worth $1,859,000 after purchasing an additional 1,618 shares during the period. AQR Capital Management LLC boosted its stake in Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares during the period. Finally, SG Americas Securities LLC increased its stake in Energy Recovery by 16.1% in the third quarter. SG Americas Securities LLC now owns 16,293 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 2,263 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ERII shares. Evercore ISI decreased their target price on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Finally, Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $20.75.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the sale, the senior vice president now owns 106,367 shares in the company, valued at $2,133,722.02. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the sale, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,825 shares of company stock valued at $814,152 over the last 90 days. Insiders own 4.10% of the company’s stock.

Energy Recovery Stock Up 3.1 %

ERII opened at $14.58 on Wednesday. The business’s fifty day simple moving average is $15.13 and its 200 day simple moving average is $16.35. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27. The firm has a market cap of $844.04 million, a P/E ratio of 42.88 and a beta of 1.18.

Energy Recovery Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.