Energy Recovery, Inc. (NASDAQ:ERII) Given Average Recommendation of "Buy" by Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have earned a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.75.

Several equities analysts have weighed in on the stock. B. Riley raised their target price on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. CJS Securities assumed coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They set a "market outperform" rating and a $19.00 target price for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Energy Recovery in a research report on Tuesday.

Energy Recovery Stock Up 1.2%

Shares of NASDAQ ERII opened at $15.74 on Wednesday. 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 $14.77 and a 200 day moving average price of $13.96. The stock has a market capitalization of $837.37 million, a price-to-earnings ratio of 37.48 and a beta of 1.02.

Insider Transactions at Energy Recovery

In other Energy Recovery news, insider William Yeung sold 33,554 shares of Energy Recovery stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $14.51, for a total transaction of $486,868.54. Following the completion of the transaction, the insider owned 97,369 shares in the company, valued at approximately $1,412,824.19. The trade was a 25.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the transaction, the senior vice president owned 100,765 shares of the company's stock, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,962 shares of company stock valued at $852,398. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Energy Recovery during the second quarter worth about $37,000. Tower Research Capital LLC TRC lifted its position in Energy Recovery by 172.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock valued at $77,000 after buying an additional 3,803 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Energy Recovery during the second quarter valued at approximately $80,000. Russell Investments Group Ltd. lifted its position in Energy Recovery by 5,662.3% during the first quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock valued at $138,000 after buying an additional 8,550 shares in the last quarter. Finally, Groupe la Francaise acquired a new position in Energy Recovery during the second quarter valued at approximately $153,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

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