Sargent Investment Group LLC reduced its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,092 shares of the industrial products company's stock after selling 132,097 shares during the quarter. Sargent Investment Group LLC owned about 0.34% of Energy Recovery worth $2,757,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ERII. CWM LLC raised its position in 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 in the last quarter. Avanza Fonder AB bought a new stake in Energy Recovery in the fourth quarter worth about $107,000. AQR Capital Management LLC raised its position in Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock worth $159,000 after acquiring an additional 1,986 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in Energy Recovery in the third quarter worth about $193,000. Finally, SG Americas Securities LLC raised its position in 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 in the last quarter. 83.58% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ERII shares. Evercore ISI dropped their price target on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. 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 on the stock. Seaport Res Ptn raised Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th. B. Riley dropped their price target on Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, November 19th. Finally, Fearnley Fonds cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Two equities 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. According to MarketBeat.com, Energy Recovery presently has an average rating of "Buy" and a consensus target price of $20.75.
Check Out Our Latest Report on Energy Recovery
Insider Buying and Selling at Energy Recovery
In related news, SVP Rodney Clemente sold 4,207 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the sale, the senior vice president now owns 106,367 shares of the company's stock, valued at approximately $2,133,722.02. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arve Hanstveit sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now directly owns 743,182 shares of the company's stock, valued at approximately $12,537,480.34. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.
Energy Recovery Trading Down 1.2 %
NASDAQ:ERII traded down $0.17 on Friday, hitting $14.53. 150,204 shares of the company's stock traded hands, compared to its average volume of 255,718. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The firm has a 50-day moving average price of $15.09 and a 200-day moving average price of $16.33. The company has a market cap of $841.14 million, a PE ratio of 42.74 and a beta of 1.18.
Energy Recovery Company 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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