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 report released on Thursday morning.

Separately, Raymond James raised shares of Energy Recovery from an outperform rating to a strong-buy rating and set a $21.00 price objective on the stock in a report on Tuesday, July 9th.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $16.29 on Thursday. The company’s fifty day moving average price is $13.71 and its 200 day moving average price is $14.50. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $28.21. The company has a market capitalization of $940.26 million, a PE ratio of 47.91 and a beta of 1.23.

Insider Activity

In other Energy Recovery news, CEO David W. Moon bought 10,500 shares of Energy Recovery stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $13.46 per share, for a total transaction of $141,330.00. Following the completion of the transaction, the chief executive officer now directly owns 29,750 shares of the company’s stock, valued at $400,435. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider William Yeung sold 2,012 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $29,435.56. Following the completion of the sale, the insider now directly owns 85,291 shares in the company, valued at $1,247,807.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David W. Moon acquired 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $13.46 per share, with a total value of $141,330.00. Following the completion of the transaction, the chief executive officer now owns 29,750 shares of the company’s stock, valued at approximately $400,435. The disclosure for this purchase can be found here. Insiders sold 88,540 shares of company stock worth $1,207,620 over the last three months. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors have recently made changes to their positions in the stock. Roubaix Capital LLC acquired a new stake in shares of Energy Recovery during the second quarter valued at about $1,841,000. Rhumbline Advisers boosted its stake in shares of Energy Recovery by 2.0% in the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after purchasing an additional 1,893 shares during the period. Van ECK Associates Corp lifted its stake in Energy Recovery by 23.6% in the second quarter. Van ECK Associates Corp now owns 122,783 shares of the industrial products company’s stock worth $1,632,000 after acquiring an additional 23,449 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Energy Recovery in the second quarter worth approximately $26,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Energy Recovery by 82.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock worth $3,640,000 after acquiring an additional 123,664 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.