Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday after an insider bought additional shares in the company. The stock has a 200-day moving average of $14.00 and traded as high as $15.89. Energy Recovery shares last traded at $15.57, with a volume of 291,549 shares changing hands.
Analyst Ratings Changes
ERII has been the topic of several analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Energy Recovery in a research report on Saturday, September 27th. B. Riley increased their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, CJS Securities began coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They issued a "market outperform" rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Energy Recovery presently has an average rating of "Buy" and an average target price of $18.75.
Check Out Our Latest Stock Analysis on Energy Recovery
Energy Recovery Price Performance
The firm has a market capitalization of $828.32 million, a P/E ratio of 37.07 and a beta of 1.02. The business's 50-day moving average is $14.56 and its 200 day moving average is $14.00.
Hedge Funds Weigh In On Energy Recovery
A number of hedge funds have recently bought and sold shares of ERII. Select Equity Group L.P. increased its position in Energy Recovery by 403.5% during the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock worth $10,601,000 after acquiring an additional 534,662 shares during the period. Alpha Wave Global LP increased its position in Energy Recovery by 132.2% during the second quarter. Alpha Wave Global LP now owns 714,321 shares of the industrial products company's stock worth $9,129,000 after acquiring an additional 406,700 shares during the period. Kopion Asset Management LLC acquired a new stake in Energy Recovery during the second quarter worth about $3,870,000. Qube Research & Technologies Ltd grew its stake in Energy Recovery by 146.0% during the second quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company's stock worth $5,871,000 after buying an additional 272,648 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Energy Recovery by 5.1% during the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company's stock worth $69,025,000 after buying an additional 262,151 shares in the last quarter. 83.58% of the stock is owned by institutional investors.
Energy Recovery Company Profile
(
Get Free Report)
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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