Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC trimmed its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 40.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 196,092 shares of the industrial products company’s stock after selling 132,097 shares during the period. Sargent Investment Group LLC’s holdings in Energy Recovery were worth $2,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares during the last quarter. Millennium Management LLC grew its holdings in Energy Recovery by 130.3% during the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after acquiring an additional 201,770 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Energy Recovery by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 1,330 shares during the last quarter. Creative Planning bought a new stake in shares of Energy Recovery in the 2nd quarter worth about $323,000. Finally, SG Americas Securities LLC lifted its position in shares of Energy Recovery by 16.1% during the third quarter. SG Americas Securities LLC now owns 16,293 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 2,263 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

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

Energy Recovery Stock Performance

ERII stock opened at $14.58 on Wednesday. The stock’s fifty day moving average is $15.13 and its two-hundred day moving average is $16.35. The stock has a market capitalization of $844.04 million, a price-to-earnings ratio of 42.88 and a beta of 1.18. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.06, for a total transaction of $84,392.42. Following the sale, the senior vice president now directly owns 106,367 shares in the company, valued at $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the transaction, the director now owns 743,182 shares of the company’s stock, valued at $12,537,480.34. This represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,825 shares of company stock valued at $814,152 in the last ninety days. Company insiders own 4.10% 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.