Energy Recovery (NASDAQ:ERII) Earns Market Outperform Rating from Analysts at CJS Securities

CJS Securities began coverage on shares of Energy Recovery (NASDAQ:ERII) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a market outperform rating and a $19.00 target price on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on ERII. Fearnley Fonds raised Energy Recovery from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. B. Riley raised their price target on Energy Recovery from $12.50 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Energy Recovery presently has a consensus rating of “Buy” and an average target price of $18.75.

Energy Recovery Stock Performance

Energy Recovery stock opened at $15.14 on Tuesday. The stock has a market cap of $805.45 million, a PE ratio of 36.05 and a beta of 1.01. The stock has a 50-day moving average of $14.08 and a two-hundred day moving average of $14.07. Energy Recovery has a one year low of $10.86 and a one year high of $20.27.

Insider Activity

In other news, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $13.97, for a total value 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 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 the SEC website. Also, insider William Yeung sold 33,554 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $14.51, for a total value of $486,868.54. Following the completion of the transaction, the insider owned 97,369 shares of the company’s stock, valued at approximately $1,412,824.19. The trade was a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ERII. Bank of America Corp DE raised its position in Energy Recovery by 1.9% during the fourth quarter. Bank of America Corp DE now owns 195,607 shares of the industrial products company’s stock valued at $2,875,000 after acquiring an additional 3,735 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Energy Recovery during the fourth quarter valued at approximately $503,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Recovery by 6.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,744 shares of the industrial products company’s stock valued at $614,000 after acquiring an additional 2,350 shares in the last quarter. Millennium Management LLC purchased a new position in Energy Recovery during the fourth quarter valued at approximately $1,970,000. Finally, Nuveen Asset Management LLC raised its position in Energy Recovery by 22.1% during the fourth quarter. Nuveen Asset Management LLC now owns 288,693 shares of the industrial products company’s stock valued at $4,244,000 after acquiring an additional 52,183 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.