Energy Recovery (NASDAQ:ERII) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Energy Recovery (NASDAQ:ERII) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Separately, Raymond James raised shares of Energy Recovery from an outperform rating to a strong-buy rating and set a $21.00 price target for the company in a research note on Tuesday, July 9th.

Energy Recovery Trading Down 7.4 %

NASDAQ ERII opened at $16.29 on Thursday. Energy Recovery has a 52 week low of $12.26 and a 52 week high of $28.21. The stock has a market cap of $940.26 million, a price-to-earnings ratio of 47.91 and a beta of 1.23. The company has a 50-day moving average price of $13.71 and a two-hundred day moving average price of $14.50.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $13.53, for a total transaction of $473,550.00. Following the completion of the sale, the director now directly owns 772,055 shares of the company’s stock, valued at $10,445,904.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Arve Hanstveit sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $13.53, for a total transaction of $473,550.00. Following the completion of the sale, the director now directly owns 772,055 shares of the company’s stock, valued at $10,445,904.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Yu Lang Mao sold 21,045 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $13.86, for a total transaction of $291,683.70. Following the sale, the director now directly owns 236,099 shares of the company’s stock, valued at $3,272,332.14. The disclosure for this sale can be found here. In the last three months, insiders sold 88,540 shares of company stock valued at $1,207,620. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery during the second quarter valued at approximately $26,000. Sentry Investment Management LLC acquired a new stake in shares of Energy Recovery during the fourth quarter valued at approximately $117,000. ProShare Advisors LLC acquired a new position in Energy Recovery in the 1st quarter valued at approximately $158,000. Lazard Asset Management LLC increased its stake in Energy Recovery by 39.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock valued at $171,000 after buying an additional 3,076 shares during the period. Finally, Martin Currie Ltd. acquired a new position in Energy Recovery in the 4th quarter valued at approximately $276,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

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.