Shares of Energy Recovery Inc. (NASDAQ:ERII) dropped 2.8% during trading on Wednesday . The company traded as low as $9.97 and last traded at $10.04, with a volume of 130,654 shares changing hands. The stock had previously closed at $10.33.

ERII has been the topic of a number of research reports. FBR & Co initiated coverage on Energy Recovery in a report on Thursday, July 14th. They issued an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research downgraded Energy Recovery from a “buy” rating to a “strong sell” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.64.

The firm’s market cap is $532.24 million. The firm has a 50-day moving average price of $9.45 and a 200 day moving average price of $9.05.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.05. On average, analysts forecast that Energy Recovery Inc. will post $0.65 EPS for the current year.

In other news, VP Andrew B. Stroud, Jr. sold 2,700 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $11.11, for a total transaction of $29,997.00. Following the transaction, the vice president now owns 14,241 shares of the company’s stock, valued at approximately $158,217.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Siebert acquired 21,389 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were bought at an average cost of $9.51 per share, for a total transaction of $203,409.39. Following the transaction, the vice president now directly owns 49,953 shares in the company, valued at $475,053.03. The disclosure for this purchase can be found here.

A hedge fund recently raised its stake in Energy Recovery stock. KBC Group NV increased its position in Energy Recovery Inc. (NASDAQ:ERII) by 83.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 265,665 shares of the company’s stock after buying an additional 120,795 shares during the period. KBC Group NV owned approximately 0.48% of Energy Recovery worth $1,878,000 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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