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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have 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 twelve-month price objective among brokerages that have covered the stock in the last year is $18.75.

Several equities research analysts have commented on the stock. CJS Securities initiated coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target on the stock. B. Riley boosted their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th.

Insider Activity

In other news, insider William Yeung sold 33,554 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $14.51, for a total transaction of $486,868.54. Following the transaction, the insider directly owned 97,369 shares in the company, valued at $1,412,824.19. The trade was a 25.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rodney Clemente sold 5,387 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the transaction, the senior vice president owned 100,765 shares in the company, valued at $1,407,687.05. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,492 shares of company stock worth $910,643 over the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $17.16 on Wednesday. The company’s 50-day moving average price is $15.03 and its two-hundred day moving average price is $14.01. Energy Recovery has a one year low of $10.86 and a one year high of $20.27. The stock has a market capitalization of $912.88 million, a PE ratio of 40.86 and a beta of 1.02.

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.