Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) PT at $18.75

Key Points

• Energy Recovery, Inc. has received a consensus rating of "Buy" from six analysts, with an average 1-year target price of $18.75.
• Insider transactions included William Yeung selling 33,554 shares at $14.51 each, decreasing his ownership by 25.63%.
• Institutional investors own 83.58% of Energy Recovery stock, with significant increases in holdings reported by various funds during the second quarter.

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have been assigned an average rating of "Buy" from the six brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.75.

ERII has been the topic of several analyst reports. CJS Securities assumed coverage on Energy Recovery in a research note on Tuesday, September 16th. They issued a "market outperform" rating and a $19.00 target price on the stock. B. Riley lifted their target price on Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th.

Insider Buying and Selling

In other news, SVP Rodney Clemente sold 5,387 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.97, for a total value of $75,256.39. Following the completion of the transaction, the senior vice president directly owned 100,765 shares of the company's stock, valued at $1,407,687.05. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Yeung sold 15,454 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.09, for a total value of $233,200.86. Following the sale, the insider owned 97,369 shares in the company, valued at $1,469,298.21. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,395 shares of company stock valued at $795,326 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently modified their holdings of the stock. Clear Creek Financial Management LLC boosted its stake in Energy Recovery by 5.9% in the first quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 850 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Energy Recovery by 2.1% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,968 shares of the industrial products company's stock valued at $894,000 after acquiring an additional 1,458 shares in the last quarter. Redmond Asset Management LLC lifted its holdings in shares of Energy Recovery by 0.8% in the 1st quarter. Redmond Asset Management LLC now owns 238,541 shares of the industrial products company's stock worth $3,790,000 after acquiring an additional 1,881 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Energy Recovery by 6.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,744 shares of the industrial products company's stock worth $614,000 after buying an additional 2,350 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Energy Recovery by 2.0% in the 2nd quarter. Nordea Investment Management AB now owns 133,592 shares of the industrial products company's stock valued at $1,721,000 after purchasing an additional 2,558 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Stock Up 1.3%

NASDAQ ERII traded up $0.19 during trading on Friday, hitting $15.14. The company's stock had a trading volume of 77,535 shares, compared to its average volume of 424,120. The firm has a market cap of $805.50 million, a P/E ratio of 36.14 and a beta of 1.01. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27. The firm has a 50 day moving average price of $14.14 and a 200 day moving average price of $14.04.

About Energy Recovery

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.