Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Average PT from Analysts

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $20.75.

ERII has been the topic of a number of recent research reports. B. Riley dropped their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the sale, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. The trade was a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Institutional Trading of Energy Recovery

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in shares of Energy Recovery by 24.6% in the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock valued at $72,823,000 after acquiring an additional 978,490 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Energy Recovery by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock valued at $47,810,000 after acquiring an additional 43,290 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after acquiring an additional 56,306 shares in the last quarter. KBC Group NV lifted its position in shares of Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after acquiring an additional 4,670 shares in the last quarter. Finally, Alpha Wave Global LP lifted its position in shares of Energy Recovery by 93.0% in the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after acquiring an additional 564,463 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Trading Up 0.9 %

NASDAQ:ERII opened at $14.78 on Tuesday. The firm has a market cap of $855.67 million, a P/E ratio of 43.47 and a beta of 1.18. The stock’s 50 day simple moving average is $14.80 and its 200-day simple moving average is $16.32. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27.

About Energy Recovery

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.