Van ECK Associates Corp Boosts Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Van ECK Associates Corp grew its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,985 shares of the industrial products company’s stock after buying an additional 1,808 shares during the quarter. Van ECK Associates Corp owned 0.17% of Energy Recovery worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Energy Recovery by 5,032.5% during the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after buying an additional 4,177 shares during the last quarter. Avanza Fonder AB purchased a new stake in Energy Recovery in the fourth quarter worth approximately $107,000. Pinnacle Associates Ltd. purchased a new stake in Energy Recovery in the third quarter worth approximately $193,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,433 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Energy Recovery in the third quarter worth approximately $377,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Wall Street Analysts Forecast Growth

ERII has been the topic of several research reports. B. Riley dropped their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Scotiabank initiated coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Evercore ISI dropped their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Two investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.75.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the sale, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This trade represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $14.65 on Friday. The company’s fifty day simple moving average is $14.83 and its 200-day simple moving average is $16.32. The stock has a market capitalization of $848.09 million, a PE ratio of 43.09 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.

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.