Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Rating of “Buy” from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.75.

Several equities research analysts have recently issued reports on the company. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Evercore ISI lowered their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. B. Riley cut their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Trading of Energy Recovery

Several institutional investors have recently added to or reduced their stakes in ERII. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Energy Recovery by 4.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company’s stock worth $2,735,000 after buying an additional 8,076 shares during the period. Two Sigma Investments LP purchased a new stake in Energy Recovery in the fourth quarter worth $229,000. State of Wyoming lifted its position in shares of Energy Recovery by 13.2% during the fourth quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 2,699 shares during the last quarter. Select Equity Group L.P. lifted its position in shares of Energy Recovery by 9.4% during the fourth quarter. Select Equity Group L.P. now owns 132,495 shares of the industrial products company’s stock worth $1,948,000 after purchasing an additional 11,351 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Energy Recovery by 45.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock valued at $7,308,000 after purchasing an additional 156,184 shares during the period. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Stock Performance

ERII opened at $14.65 on Tuesday. The stock has a market capitalization of $848.09 million, a price-to-earnings ratio of 43.09 and a beta of 1.18. The company has a fifty day moving average of $14.83 and a 200 day moving average of $16.33. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

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.