BidaskClub cut shares of Energy Recovery (NASDAQ:ERII) from a sell rating to a strong sell rating in a research note published on Wednesday morning.
A number of other equities analysts have also issued reports on ERII. B. Riley reissued a buy rating and set a $20.00 price target (up previously from $16.00) on shares of Energy Recovery in a report on Wednesday, November 1st. FBR & Co reissued a buy rating on shares of Energy Recovery in a report on Wednesday, October 11th. ValuEngine raised Energy Recovery from a sell rating to a hold rating in a report on Thursday, November 2nd. Jefferies Group reissued a buy rating and set a $14.00 price target on shares of Energy Recovery in a report on Wednesday, December 20th. Finally, Zacks Investment Research lowered Energy Recovery from a strong-buy rating to a sell rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $15.63.
Energy Recovery (NASDAQ:ERII) opened at $7.89 on Wednesday. The stock has a market capitalization of $444.85, a PE ratio of 131.50 and a beta of 5.47. Energy Recovery has a twelve month low of $6.13 and a twelve month high of $11.30.
In related news, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $8.91, for a total transaction of $445,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the transaction, the vice president now directly owns 32,398 shares in the company, valued at approximately $356,378. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,117 shares of company stock worth $545,787. Corporate insiders own 23.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC acquired a new stake in Energy Recovery in the second quarter valued at about $117,000. Perigon Wealth Management LLC lifted its position in Energy Recovery by 149.7% in the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 9,099 shares during the period. GSA Capital Partners LLP acquired a new stake in Energy Recovery in the third quarter valued at about $130,000. Boothbay Fund Management LLC acquired a new stake in Energy Recovery in the third quarter valued at about $131,000. Finally, PEAK6 Investments L.P. acquired a new stake in Energy Recovery in the third quarter valued at about $150,000. Hedge funds and other institutional investors own 33.60% of the company’s stock.
About Energy Recovery
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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