Energy Recovery (NASDAQ:ERII) Coverage Initiated by Analysts at CJS Securities

Key Points

• CJS Securities has initiated coverage of Energy Recovery (NASDAQ:ERII), issuing a "market outperform" rating with a price target of $19.00, indicating a potential upside of 30.14% from its current price.
• Recent analyses from other firms have varied, with B. Riley raising its target price to $14.00 and Fearnley Fonds upgrading its rating to "strong-buy," while the consensus rating remains at "Buy" with an average target price of $18.75.
• Institutional investors have recently increased their stakes in Energy Recovery, with notable increases from Ameriprise Financial, Vanguard Group, and Invesco, who collectively own 83.58% of the company's stock.

Equities research analysts at CJS Securities initiated coverage on shares of Energy Recovery (NASDAQ:ERII - Get Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm set a "market outperform" rating and a $19.00 price target on the industrial products company's stock. CJS Securities' price objective would indicate a potential upside of 27.43% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. B. Riley increased their target price on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Energy Recovery has a consensus rating of "Buy" and an average target price of $18.75.

Energy Recovery Stock Up 1.5%

ERII stock traded up $0.22 during mid-day trading on Tuesday, reaching $14.91. 120,834 shares of the stock traded hands, compared to its average volume of 424,538. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27. The business has a 50-day moving average of $14.11 and a two-hundred day moving average of $14.05. The firm has a market capitalization of $793.21 million, a PE ratio of 35.51 and a beta of 1.01.

Insider Buying and Selling

In other news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Yeung sold 33,554 shares of Energy Recovery stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the transaction, the insider directly owned 97,369 shares in the company, valued at approximately $1,412,824.19. This represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming raised its holdings in shares of Energy Recovery by 31.1% during the second quarter. State of Wyoming now owns 19,486 shares of the industrial products company's stock worth $249,000 after acquiring an additional 4,622 shares during the period. Tower Research Capital LLC TRC increased its stake in Energy Recovery by 172.2% in the 2nd 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 during the last quarter. State of Tennessee Department of Treasury acquired a new stake in Energy Recovery in the 2nd quarter valued at $176,000. Select Equity Group L.P. increased its stake in Energy Recovery by 15.4% in the 2nd quarter. Select Equity Group L.P. now owns 769,706 shares of the industrial products company's stock valued at $9,837,000 after buying an additional 102,549 shares during the last quarter. Finally, HRT Financial LP grew its position in shares of Energy Recovery by 117.3% in the 2nd quarter. HRT Financial LP now owns 136,441 shares of the industrial products company's stock valued at $1,743,000 after acquiring an additional 73,650 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Company Profile

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.