Manchester Capital Management LLC Has $429,000 Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Manchester Capital Management LLC lifted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,174 shares of the industrial products company’s stock after acquiring an additional 830 shares during the quarter. Manchester Capital Management LLC owned approximately 0.05% of Energy Recovery worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC increased its position in Energy Recovery by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after buying an additional 56,306 shares during the last quarter. KBC Group NV raised its holdings in Energy Recovery by 0.4% during the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after buying an additional 4,670 shares in the last quarter. Alpha Wave Global LP raised its stake in shares of Energy Recovery by 93.0% in the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after acquiring an additional 564,463 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Energy Recovery in the 3rd quarter worth approximately $15,237,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Energy Recovery by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock worth $8,150,000 after purchasing an additional 7,440 shares during the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the sale, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Evercore ISI cut their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Scotiabank assumed coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target for the company. Finally, B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $20.75.

Energy Recovery Trading Up 1.3 %

ERII opened at $15.29 on Friday. The stock has a market cap of $885.14 million, a PE ratio of 44.97 and a beta of 1.18. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The stock’s 50 day simple moving average is $14.97 and its 200-day simple moving average is $16.34.

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.