Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) PT at $20.75

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have earned an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.75.

Several research analysts recently issued reports on ERII shares. Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Evercore ISI reduced their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th.

Insider Activity

In other news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the transaction, the director now directly owns 743,182 shares of the company’s stock, valued at $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Energy Recovery

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Energy Recovery by 4.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company’s stock valued at $2,735,000 after acquiring an additional 8,076 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Energy Recovery during the 4th quarter worth approximately $229,000. State of Wyoming raised its position in shares of Energy Recovery by 13.2% in the fourth quarter. State of Wyoming now owns 23,131 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 2,699 shares during the period. Select Equity Group L.P. raised its holdings in Energy Recovery by 9.4% in the 4th quarter. Select Equity Group L.P. now owns 132,495 shares of the industrial products company’s stock valued at $1,948,000 after acquiring an additional 11,351 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. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Trading Down 1.0 %

ERII opened at $15.48 on Tuesday. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27. The stock has a market cap of $896.14 million, a PE ratio of 45.53 and a beta of 1.18. The stock’s 50 day simple moving average is $14.86 and its 200-day simple moving average is $16.33.

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.