Vanguard Group Inc. Increases Stock Position in Energy Recovery, Inc. $ERII

Vanguard Group Inc. grew its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,852,438 shares of the industrial products company’s stock after buying an additional 89,696 shares during the period. Vanguard Group Inc. owned 7.27% of Energy Recovery worth $51,969,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Legacy Capital Group California Inc. purchased a new position in Energy Recovery during the 4th quarter valued at about $140,000. Evergreen Capital Management LLC purchased a new stake in Energy Recovery in the fourth quarter worth about $235,000. State of Alaska Department of Revenue increased its stake in shares of Energy Recovery by 252.9% during the fourth quarter. State of Alaska Department of Revenue now owns 10,642 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 7,626 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Energy Recovery by 3.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 220,116 shares of the industrial products company’s stock valued at $2,969,000 after purchasing an additional 7,575 shares during the last quarter. Finally, Miller Global Investments LLC purchased a new position in shares of Energy Recovery during the fourth quarter valued at approximately $336,000. 83.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday. Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Seaport Research Partners reissued a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a research note on Wednesday. Weiss Ratings downgraded Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Loop Capital set a $13.00 price target on Energy Recovery in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Energy Recovery Stock Performance

Shares of ERII stock opened at $8.41 on Friday. Energy Recovery, Inc. has a one year low of $8.14 and a one year high of $18.32. The company’s 50-day moving average is $10.30 and its 200 day moving average is $13.06. The company has a market capitalization of $433.45 million, a price-to-earnings ratio of 22.13 and a beta of 1.04.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The business had revenue of $9.71 million for the quarter, compared to analysts’ expectations of $8.37 million. As a group, research analysts predict that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Energy Recovery

In related news, Director Arve Hanstveit sold 165,292 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $10.14, for a total transaction of $1,676,060.88. Following the sale, the director directly owned 384,928 shares of the company’s stock, valued at $3,903,169.92. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pamela L. Tondreau acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $8.34 per share, for a total transaction of $166,800.00. Following the completion of the transaction, the director directly owned 37,362 shares of the company’s stock, valued at $311,599.08. The trade was a 115.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 238,551 shares of company stock valued at $2,456,512 over the last ninety days. Insiders own 3.20% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.