Stratos Wealth Partners LTD. Lowers Position in Energy Recovery, Inc. (NASDAQ:ERII)

Stratos Wealth Partners LTD. cut its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,058 shares of the industrial products company’s stock after selling 1,582 shares during the period. Stratos Wealth Partners LTD.’s holdings in Energy Recovery were worth $251,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. KBC Group NV lifted its position in shares of Energy Recovery by 0.4% during the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after purchasing an additional 4,670 shares in the last quarter. Inspire Investing LLC increased its holdings in Energy Recovery by 14.8% during the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after buying an additional 3,594 shares during the last quarter. SG Americas Securities LLC raised its position in Energy Recovery by 552.4% in the fourth quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock worth $1,563,000 after acquiring an additional 90,008 shares during the period. Avanza Fonder AB purchased a new position in Energy Recovery in the fourth quarter valued at about $107,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Energy Recovery by 8.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 150,559 shares of the industrial products company’s stock valued at $2,213,000 after acquiring an additional 12,330 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. 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. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. B. Riley reduced their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Finally, Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Energy Recovery currently has a consensus rating of “Buy” and an average target price of $20.75.

Insider Activity at Energy Recovery

In other news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is owned by corporate insiders.

Energy Recovery Price Performance

Shares of ERII stock opened at $15.10 on Friday. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The business has a 50-day moving average of $15.01 and a 200 day moving average of $16.34. The stock has a market capitalization of $874.14 million, a PE ratio of 44.41 and a beta of 1.18.

Energy Recovery 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.