Energy Recovery, Inc. (NASDAQ:ERII) SVP Sells $330,666.48 in Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $14.78 on Tuesday. The stock has a market capitalization of $855.67 million, a P/E ratio of 43.47 and a beta of 1.18. The business has a 50-day moving average of $14.80 and a two-hundred day moving average of $16.32. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Energy Recovery by 24.6% during the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock valued at $72,823,000 after purchasing an additional 978,490 shares during the last quarter. Baillie Gifford & Co. acquired a new position in Energy Recovery in the 3rd quarter valued at $15,237,000. Alpha Wave Global LP grew its stake in Energy Recovery by 93.0% in the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after buying an additional 564,463 shares during the last quarter. Raymond James Financial Inc. bought a new position in Energy Recovery in the 4th quarter worth $5,741,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Energy Recovery during the 4th quarter worth $4,670,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ERII shares. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. B. Riley dropped their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Scotiabank started coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Evercore ISI cut their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Recovery has an average rating of “Buy” and an average price target of $20.75.

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.