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

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Energy Recovery Stock Down 0.7 %

Energy Recovery stock opened at $14.68 on Wednesday. The stock has a market capitalization of $849.88 million, a PE ratio of 43.18 and a beta of 1.18. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The company has a 50 day moving average of $14.80 and a 200-day moving average of $16.32.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its holdings 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 buying an additional 978,490 shares during the period. Vanguard Group Inc. boosted its holdings 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 buying an additional 43,290 shares during the period. 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 worth $23,631,000 after purchasing 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 worth $18,270,000 after purchasing 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 worth $20,374,000 after purchasing an additional 564,463 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

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.