Amundi Sells 5,023 Shares of Energy Recovery, Inc. $ERII

Amundi lowered its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 347,235 shares of the industrial products company’s stock after selling 5,023 shares during the period. Amundi owned 0.63% of Energy Recovery worth $5,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ERII. Vanguard Group Inc. increased its stake in shares of Energy Recovery by 7.5% during the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock worth $55,534,000 after purchasing an additional 242,494 shares during the period. Nuveen LLC bought a new position in shares of Energy Recovery during the first quarter worth approximately $3,802,000. Raiffeisen Bank International AG bought a new position in shares of Energy Recovery during the fourth quarter worth approximately $3,459,000. Ameriprise Financial Inc. increased its stake in shares of Energy Recovery by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company’s stock worth $81,657,000 after purchasing an additional 184,942 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Energy Recovery by 45.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock worth $7,308,000 after purchasing an additional 156,184 shares during the period. Institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ERII shares. Fearnley Fonds upgraded Energy Recovery from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th. B. Riley raised 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. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.67.

Insiders Place Their Bets

In related news, SVP Rodney Clemente sold 5,387 shares of the business’s 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 sale, the senior vice president owned 100,765 shares in the company, valued at $1,407,687.05. The trade was a 5.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by corporate insiders.

Energy Recovery Stock Performance

Shares of ERII opened at $14.59 on Thursday. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The business’s fifty day moving average is $13.90 and its 200-day moving average is $14.08. The firm has a market cap of $776.19 million, a price-to-earnings ratio of 34.74 and a beta of 1.01.

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.