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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.75.

A number of analysts have weighed in on the company. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Evercore ISI reduced their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective for the company. Finally, B. Riley cut 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.

Insider Activity

In other news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Energy Recovery

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Energy Recovery by 4.5% during the 4th 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 worth $2,735,000 after acquiring an additional 8,076 shares during the last quarter. Two Sigma Investments LP acquired a new position in Energy Recovery during the 4th quarter worth approximately $229,000. State of Wyoming boosted its position in Energy Recovery by 13.2% during the 4th quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 2,699 shares during the last quarter. Select Equity Group L.P. boosted its position in Energy Recovery by 9.4% during 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 acquiring an additional 11,351 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Energy Recovery by 45.8% during 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 acquiring an additional 156,184 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Trading Up 1.3 %

ERII opened at $15.29 on Tuesday. The stock has a market cap of $885.14 million, a price-to-earnings ratio of 44.97 and a beta of 1.18. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27. The stock has a fifty day moving average price of $14.94 and a 200 day moving average price of $16.35.

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.