Rice Hall James & Associates LLC Lowers Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Rice Hall James & Associates LLC trimmed its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,354 shares of the industrial products company’s stock after selling 6,118 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Energy Recovery were worth $3,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock valued at $16,462,000 after acquiring an additional 243,653 shares during the period. Manchester Capital Management LLC boosted its holdings in Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock valued at $429,000 after acquiring an additional 830 shares during the period. Van ECK Associates Corp boosted its holdings in Energy Recovery by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock valued at $1,440,000 after acquiring an additional 1,808 shares during the period. KBC Group NV raised its position in Energy Recovery by 0.4% in the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after purchasing an additional 4,670 shares in the last quarter. Finally, Inspire Investing LLC raised its position in Energy Recovery by 14.8% in the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 3,594 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $15.55 on Wednesday. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The firm has a market capitalization of $900.19 million, a PE ratio of 45.74 and a beta of 1.18. The stock’s 50-day simple moving average is $14.94 and its 200-day simple moving average is $16.35.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 20,000 shares of the firm’s 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 sale, the director now owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. B. Riley reduced their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Evercore ISI reduced their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery 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.