Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Recommendation of “Buy” by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.6667.

Several equities analysts have recently commented on ERII shares. Fearnley Fonds upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. Wall Street Zen cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, B. Riley boosted their target price on shares of Energy Recovery from $12.50 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th.

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 5,387 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the completion of the transaction, the senior vice president directly owned 100,765 shares in the company, valued at $1,407,687.05. This represents a 5.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total transaction of $380,400.00. Following the transaction, the director owned 655,220 shares of the company’s stock, valued at approximately $8,308,189.60. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,387 shares of company stock valued at $710,656. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

Institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH acquired a new position in Energy Recovery during the 2nd quarter worth approximately $37,000. Tower Research Capital LLC TRC increased its position in Energy Recovery by 172.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 3,803 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Energy Recovery during the 2nd quarter worth approximately $80,000. Russell Investments Group Ltd. increased its position in Energy Recovery by 5,662.3% during the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 8,550 shares in the last quarter. Finally, Groupe la Francaise acquired a new position in Energy Recovery during the 2nd quarter worth approximately $153,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Trading Down 1.4%

Shares of NASDAQ:ERII opened at $14.21 on Tuesday. The firm has a 50 day moving average of $13.60 and a 200-day moving average of $14.13. The stock has a market capitalization of $755.97 million, a PE ratio of 33.83 and a beta of 1.03. Energy Recovery has a 12 month low of $10.86 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.