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

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Energy Recovery Trading Up 0.9 %

NASDAQ:ERII traded up $0.13 during trading hours on Monday, reaching $14.78. The company had a trading volume of 271,539 shares, compared to its average volume of 258,238. The firm has a market cap of $855.67 million, a price-to-earnings ratio of 43.47 and a beta of 1.18. The firm’s 50 day moving average price is $14.80 and its 200-day moving average price is $16.32. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27.

Institutional Trading of Energy Recovery

Several large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $2,735,000 after acquiring an additional 8,076 shares during the period. Two Sigma Investments LP bought a new position in shares of Energy Recovery in the 4th quarter worth approximately $229,000. State of Wyoming grew its position in Energy Recovery by 13.2% during the fourth quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock valued at $340,000 after buying an additional 2,699 shares during the period. Select Equity Group L.P. increased its stake in shares of Energy Recovery by 9.4% in the 4th 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 in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Energy Recovery by 45.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock worth $7,308,000 after purchasing an additional 156,184 shares during the period. Institutional investors own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ERII. 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 dropped their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. B. Riley reduced their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Energy Recovery currently has an average rating of “Buy” and an average price target of $20.75.

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.