Energy Recovery (NASDAQ:ERII) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Energy Recovery (NASDAQ:ERII) has received a "hold (C)" rating from Weiss Ratings, indicating a neutral outlook from analysts.
• B. Riley has increased their price target for Energy Recovery to $14.00, while CJS Securities assigns a target price of $19.00 with a "market outperform" rating.
• Insiders, including William Yeung and Rodney Clemente, have sold a combined total of 57,962 shares in the past 90 days, representing a decrease in their ownership stakes.

Energy Recovery (NASDAQ:ERII - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. B. Riley boosted their price objective on Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. CJS Securities began coverage on Energy Recovery in a research note on Tuesday, September 16th. They issued a "market outperform" rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $18.75.

Energy Recovery Trading Up 1.2%

Shares of ERII traded up $0.18 during midday trading on Tuesday, reaching $15.74. 77,859 shares of the stock were exchanged, compared to its average volume of 422,560. The company has a market capitalization of $837.58 million, a P/E ratio of 37.49 and a beta of 1.02. The company's 50 day moving average is $14.72 and its two-hundred day moving average is $13.95. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27.

Insiders Place Their Bets

In other Energy Recovery news, insider William Yeung sold 3,567 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $16.00, for a total transaction of $57,072.00. Following the transaction, the insider directly owned 97,369 shares of the company's stock, valued at $1,557,904. This represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rodney Clemente sold 5,387 shares of the business's stock in a transaction on Monday, July 28th. The shares were 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 of the company's stock, valued at $1,407,687.05. This trade represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,962 shares of company stock valued at $852,398 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds have recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Energy Recovery during the second quarter worth about $37,000. Tower Research Capital LLC TRC lifted its stake 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 bought a new position in Energy Recovery in the second quarter worth about $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, Groupe la Francaise bought a new stake in shares of Energy Recovery during the 2nd quarter valued at $153,000. Institutional investors own 83.58% of the company's stock.

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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