Energy Recovery, Inc. (NASDAQ:ERII) Receives $18.75 Average Price Target from Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.75.

ERII has been the topic of several research analyst reports. CJS Securities initiated coverage on Energy Recovery in a research note on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday. Finally, B. Riley boosted their target price on Energy Recovery from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th.

Insider Activity at Energy Recovery

In other news, SVP Rodney Clemente sold 5,387 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 100,765 shares of the company’s stock, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Yeung sold 33,554 shares of Energy Recovery stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $14.51, for a total value of $486,868.54. Following the sale, the insider owned 97,369 shares in the company, valued at $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. Insiders have sold 61,492 shares of company stock worth $910,643 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds have recently made changes to their positions in the company. Clear Creek Financial Management LLC boosted its position in shares of Energy Recovery by 5.9% during the first quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 850 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Energy Recovery by 2.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,968 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 1,458 shares in the last quarter. Redmond Asset Management LLC boosted its position in shares of Energy Recovery by 0.8% during the first quarter. Redmond Asset Management LLC now owns 238,541 shares of the industrial products company’s stock valued at $3,790,000 after purchasing an additional 1,881 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Energy Recovery by 2.0% during the second quarter. Nordea Investment Management AB now owns 133,592 shares of the industrial products company’s stock valued at $1,721,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Energy Recovery by 11.0% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,461 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 2,623 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $16.76 on Wednesday. Energy Recovery has a one year low of $10.86 and a one year high of $20.27. The stock has a market capitalization of $891.63 million, a P/E ratio of 39.91 and a beta of 1.02. The business’s 50 day simple moving average is $14.91 and its two-hundred day simple moving average is $13.99.

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.