Exchange Traded Concepts LLC decreased its holdings in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,655 shares of the industrial products company's stock after selling 134,367 shares during the quarter. Exchange Traded Concepts LLC's holdings in Energy Recovery were worth $157,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in ERII. Baillie Gifford & Co. acquired a new position in Energy Recovery during the third quarter worth $15,237,000. Alpha Wave Global LP raised its position in shares of Energy Recovery by 93.0% during 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 acquiring an additional 564,463 shares during the last quarter. Millennium Management LLC boosted its position in shares of Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company's stock worth $4,739,000 after purchasing an additional 201,770 shares during the last quarter. KBC Group NV raised its stake in Energy Recovery by 14.1% during the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company's stock worth $21,533,000 after buying an additional 153,381 shares during the period. Finally, Rice Hall James & Associates LLC lifted its position in Energy Recovery by 84.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 246,472 shares of the industrial products company's stock valued at $4,286,000 after acquiring an additional 112,754 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Evercore ISI cut their target price on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, November 19th. B. Riley lowered their target price on shares of Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They issued a "buy" rating and a $22.00 target price on the stock. Finally, Fearnley Fonds cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Energy Recovery currently has a consensus rating of "Buy" and an average price target of $20.75.
Get Our Latest Stock Report on Energy Recovery
Insider Transactions at Energy Recovery
In other news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery 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 transaction, the director now owns 743,182 shares in the company, valued at $12,537,480.34. The trade was a 2.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 4,207 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the sale, the senior vice president now directly owns 106,367 shares in the company, valued at $2,133,722.02. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,825 shares of company stock worth $814,152. 4.10% of the stock is owned by corporate insiders.
Energy Recovery Stock Up 0.8 %
ERII stock traded up $0.11 during trading on Wednesday, reaching $14.69. 190,655 shares of the company's stock were exchanged, compared to its average volume of 272,520. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The firm has a market cap of $850.40 million, a PE ratio of 43.21 and a beta of 1.18. The company's fifty day moving average price is $15.12 and its 200-day moving average price is $16.34.
About Energy Recovery
(
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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