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

Energy Recovery, Inc. (NASDAQ:ERII) has received a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.75.

Several research firms recently commented on ERII. Evercore ISI dropped their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. B. Riley dropped their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price for the company. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th.

Energy Recovery Trading Up 0.9 %

Energy Recovery stock opened at $14.78 on Tuesday. The firm has a market capitalization of $855.67 million, a P/E ratio of 43.47 and a beta of 1.18. The stock has a fifty day moving average price of $14.80 and a 200 day moving average price of $16.32. Energy Recovery has a 52 week low of $12.26 and a 52 week high of $20.27.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after buying an additional 4,177 shares during the period. Avanza Fonder AB purchased a new position in Energy Recovery in the fourth quarter valued at about $107,000. Schroder Investment Management Group purchased a new position in Energy Recovery in the fourth quarter valued at about $160,000. Nebula Research & Development LLC boosted its holdings in Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares during the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in Energy Recovery in the third quarter valued at about $193,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.