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

Key Points

• Energy Recovery, Inc. (NASDAQ:ERII) has an average analyst rating of "Buy", with target prices averaging around $18.67.
• Insider activity includes notable transactions, with Director Arve Hanstveit selling 30,000 shares at an average price of $12.68, representing a decrease in ownership.
• Institutional investors hold 83.58% of the company's stock, indicating strong institutional interest and support for Energy Recovery, Inc.

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have been given an average recommendation of "Buy" by the five research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.6667.

ERII has been the subject of a number of recent analyst reports. B. Riley boosted their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th.

Energy Recovery Stock Performance

ERII stock traded down $0.26 during trading on Tuesday, hitting $14.16. 64,312 shares of the company traded hands, compared to its average volume of 418,583. The company has a 50-day moving average of $13.56 and a 200-day moving average of $14.14. The firm has a market capitalization of $753.05 million, a PE ratio of 33.66 and a beta of 1.03. Energy Recovery has a 1 year low of $10.86 and a 1 year high of $20.27.

Insider Activity at Energy Recovery

In other news, Director Arve Hanstveit sold 30,000 shares of Energy Recovery stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $380,400.00. Following the completion of the sale, the director owned 655,220 shares of the company's stock, valued at approximately $8,308,189.60. The trade was a 4.38% decrease in their ownership of the stock. The transaction 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 on Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the completion of the transaction, the senior vice president directly owned 100,765 shares in the company, valued at $1,407,687.05. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,387 shares of company stock valued at $710,656 in the last ninety days. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new position in Energy Recovery in the second quarter worth $37,000. Tower Research Capital LLC TRC grew its holdings in Energy Recovery by 172.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock worth $77,000 after purchasing an additional 3,803 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Energy Recovery during the second quarter valued at $80,000. Russell Investments Group Ltd. grew its holdings in shares of 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 during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Energy Recovery during the first quarter valued at $162,000. 83.58% of the stock is 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.