Baillie Gifford & Co. raised its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,119,841 shares of the industrial products company's stock after acquiring an additional 243,653 shares during the period. Baillie Gifford & Co. owned approximately 1.93% of Energy Recovery worth $16,462,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. CWM LLC grew its stake in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock worth $74,000 after acquiring an additional 4,177 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Energy Recovery in the fourth quarter worth $107,000. Pinnacle Associates Ltd. purchased a new stake in shares of Energy Recovery in the third quarter worth $193,000. SG Americas Securities LLC grew its stake in shares of Energy Recovery by 16.1% in the third quarter. SG Americas Securities LLC now owns 16,293 shares of the industrial products company's stock worth $283,000 after acquiring an additional 2,263 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company's stock worth $307,000 after acquiring an additional 1,433 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.
Energy Recovery Stock Down 5.4 %
NASDAQ:ERII traded down $0.83 on Friday, hitting $14.65. The stock had a trading volume of 281,381 shares, compared to its average volume of 257,849. The stock has a market cap of $848.09 million, a price-to-earnings ratio of 43.09 and a beta of 1.18. The business's 50-day simple moving average is $14.83 and its two-hundred day simple moving average is $16.32. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27.
Insiders Place Their Bets
In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now directly owns 743,182 shares of the company's stock, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Evercore ISI dropped their price objective 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. Seaport Res Ptn raised Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. B. Riley dropped their price objective 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. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective on the stock. Finally, Fearnley Fonds cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $20.75.
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Energy Recovery Profile
(
Free Report)
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.
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