Trade Report: Today, Analysts gives Consensus Recommendation of “Buy” to Energy Recovery Inc. (ERII)

Today, Analysts gives Consensus Recommendation of “Buy” to Energy Recovery Inc. (ERII)

Energy Recovery Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the six analysts that are covering the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $19.00.

Several research firms have commented on ERII. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, September 14th. FBR & Co reissued a “buy” rating on shares of Energy Recovery in a research report on Thursday, September 8th. Evercore ISI began coverage on shares of Energy Recovery in a research report on Tuesday, September 27th. They set a “buy” rating and a $23.00 target price on the stock. Iberia Capital began coverage on shares of Energy Recovery in a research report on Monday, September 26th. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Jefferies Group raised shares of Energy Recovery from a “hold” rating to a “buy” rating and increased their target price for the stock from $8.00 to $20.00 in a research report on Tuesday, September 13th.

In other news, General Counsel William Yeung purchased 4,770 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $48,177.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ERII. Acrospire Investment Management LLC boosted its stake in Energy Recovery by 109.3% in the second quarter. Acrospire Investment Management LLC now owns 12,449 shares of the company’s stock worth $111,000 after buying an additional 6,500 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Energy Recovery during the second quarter worth about $170,000. Nationwide Fund Advisors purchased a new stake in Energy Recovery during the second quarter worth about $200,000. Ameriprise Financial Inc. boosted its stake in Energy Recovery by 14.0% in the second quarter. Ameriprise Financial Inc. now owns 174,925 shares of the company’s stock worth $1,556,000 after buying an additional 21,511 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Energy Recovery by 27.9% in the second quarter. California Public Employees Retirement System now owns 242,400 shares of the company’s stock worth $2,155,000 after buying an additional 52,900 shares during the period. Institutional investors own 29.50% of the company’s stock.

Shares of Energy Recovery (NASDAQ:ERII) opened at 11.63 on Monday. The company has a 50-day moving average price of $12.28 and a 200 day moving average price of $11.74. The company’s market capitalization is $608.84 million. Energy Recovery has a one year low of $5.28 and a one year high of $16.67.

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