Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente Sells 21,444 Shares of Stock

Energy Recovery, Inc. (NASDAQ:ERII) SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Energy Recovery Trading Up 0.9 %

NASDAQ ERII opened at $14.78 on Tuesday. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The company has a market cap of $855.67 million, a PE ratio of 43.47 and a beta of 1.18. The stock’s 50-day moving average price is $14.80 and its two-hundred day moving average price is $16.32.

Analysts Set New Price Targets

ERII has been the subject of several research reports. Evercore ISI decreased their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank assumed coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, B. Riley decreased their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Energy Recovery has an average rating of “Buy” and an average price target of $20.75.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Energy Recovery by 24.6% in the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock worth $72,823,000 after purchasing an additional 978,490 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of Energy Recovery in the third quarter valued at $15,237,000. Alpha Wave Global LP boosted its position in shares of Energy Recovery by 93.0% in the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock worth $20,374,000 after buying an additional 564,463 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Energy Recovery during the fourth quarter valued at $5,741,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Energy Recovery during the fourth quarter valued at $4,670,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Energy Recovery

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.