Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente Sells 21,444 Shares

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Energy Recovery Trading Up 0.9 %

Shares of NASDAQ ERII traded up $0.13 during midday trading on Monday, reaching $14.78. The company’s stock had a trading volume of 271,539 shares, compared to its average volume of 258,238. The stock has a 50 day simple moving average of $14.80 and a 200-day simple moving average of $16.32. The stock has a market capitalization of $855.67 million, a price-to-earnings ratio of 43.47 and a beta of 1.18. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ERII. KBC Group NV lifted its holdings in Energy Recovery by 14.1% during the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after purchasing an additional 153,381 shares during the last quarter. Geode Capital Management LLC increased its holdings in Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after buying an additional 56,306 shares during the period. Barclays PLC lifted its stake in Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 76,393 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in Energy Recovery in the third quarter valued at about $15,237,000. Finally, Summit Global Investments bought a new stake in shares of Energy Recovery during the 3rd quarter valued at approximately $939,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Energy Recovery Company 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.