Energy Recovery Inc. (NASDAQ:ERII) rose 3.2% during mid-day trading on Thursday . The stock traded as high as $9.50 and last traded at $9.41, with a volume of 244,223 shares trading hands. The stock had previously closed at $9.12.

Several research analysts recently commented on ERII shares. FBR & Co started coverage on Energy Recovery in a research note on Thursday. They set an “outperform” rating and a $14.00 target price for the company. Zacks Investment Research cut Energy Recovery from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Energy Recovery currently has a consensus rating of “Hold” and a consensus price target of $8.64.

The firm’s market capitalization is $514.97 million. The stock has a 50-day moving average of $9.48 and a 200-day moving average of $8.98.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.05. Equities analysts predict that Energy Recovery Inc. will post $0.66 earnings per share for the current year.

In related news, Director Hans Peter Michelet sold 150,000 shares of the stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $9.14, for a total value of $1,371,000.00. Following the transaction, the director now directly owns 225,000 shares of the company’s stock, valued at approximately $2,056,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew B. Stroud, Jr. sold 2,700 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $11.11, for a total value of $29,997.00. Following the completion of the transaction, the vice president now directly owns 14,241 shares in the company, valued at $158,217.51. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Energy Recovery stock. Morgan Stanley boosted its stake in Energy Recovery Inc. (NASDAQ:ERII) by 121.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,217 shares of the company’s stock after buying an additional 187,906 shares during the period. Morgan Stanley owned 0.63% of Energy Recovery worth $2,426,000 at the end of the most recent quarter.

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.

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