Clear Creek Financial Management LLC Decreases Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Clear Creek Financial Management LLC lessened its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,400 shares of the industrial products company’s stock after selling 1,000 shares during the period. Clear Creek Financial Management LLC’s holdings in Energy Recovery were worth $212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KBC Group NV increased its stake in Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock worth $18,270,000 after purchasing an additional 4,670 shares during the period. Inspire Investing LLC grew its position in shares of Energy Recovery by 14.8% during the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after buying an additional 3,594 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Energy Recovery by 552.4% during the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 90,008 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Energy Recovery during the 4th quarter worth $107,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Energy Recovery by 8.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 150,559 shares of the industrial products company’s stock worth $2,213,000 after buying an additional 12,330 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the sale, the senior vice president now owns 106,367 shares in the company, valued at $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares in the company, valued at $12,537,480.34. This represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,825 shares of company stock valued at $814,152. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of recent research reports. B. Riley dropped 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. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Evercore ISI lowered 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. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Scotiabank initiated coverage on Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $20.75.

Energy Recovery Stock Down 1.4 %

Shares of NASDAQ:ERII opened at $14.14 on Tuesday. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The stock has a market cap of $818.56 million, a price-to-earnings ratio of 41.59 and a beta of 1.18. The business has a 50-day moving average price of $15.18 and a 200-day moving average price of $16.35.

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.