Energy Recovery, Inc. (NASDAQ:ERII) Shares Acquired by Keene & Associates Inc.

Keene & Associates Inc. raised its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 15.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,604 shares of the industrial products company’s stock after purchasing an additional 4,375 shares during the quarter. Keene & Associates Inc.’s holdings in Energy Recovery were worth $479,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Manchester Capital Management LLC increased its holdings in shares of 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 worth $429,000 after buying an additional 830 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Energy Recovery by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 1,433 shares during the period. Nordea Investment Management AB increased its stake in Energy Recovery by 1.3% during the fourth quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock worth $1,859,000 after acquiring an additional 1,618 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Energy Recovery by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock worth $1,440,000 after purchasing an additional 1,808 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Energy Recovery by 10.6% in the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 3,176 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Trading Up 1.7 %

ERII opened at $15.55 on Wednesday. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a market cap of $900.19 million, a price-to-earnings ratio of 45.74 and a beta of 1.18. The company has a fifty day simple moving average of $14.94 and a 200 day simple moving average of $16.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ERII. Scotiabank started coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 target price for the company. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Evercore ISI decreased their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, B. Riley cut their price objective 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. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Energy Recovery currently has an average rating of “Buy” and a consensus target price of $20.75.

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 that occurred 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 transaction, the director now directly owns 743,182 shares of the company’s stock, valued at $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by corporate insiders.

About Energy Recovery

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.