Energy Recovery, Inc. $ERII Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP raised its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 167.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 109,307 shares of the industrial products company’s stock after buying an additional 68,431 shares during the quarter. GSA Capital Partners LLP’s holdings in Energy Recovery were worth $1,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wexford Capital LP purchased a new stake in shares of Energy Recovery during the 3rd quarter worth approximately $27,000. Hantz Financial Services Inc. increased its stake in Energy Recovery by 2,581.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,859 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Energy Recovery during the third quarter worth $46,000. Comerica Bank raised its holdings in Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 2,324 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Energy Recovery by 172.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 3,803 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ERII. Wall Street Zen cut Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Northcoast Research lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Loop Capital set a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 2nd. Seaport Research Partners restated a “buy” rating and set a $12.00 target price on shares of Energy Recovery in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.00.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 20,568 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $10.61, for a total value of $218,226.48. Following the sale, the senior vice president directly owned 116,008 shares of the company’s stock, valued at approximately $1,230,844.88. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela L. Tondreau purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $8.34 per share, for a total transaction of $166,800.00. Following the acquisition, the director owned 37,362 shares in the company, 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. In the last three months, insiders sold 238,551 shares of company stock worth $2,456,512. Insiders own 3.20% of the company’s stock.

Energy Recovery Stock Up 2.2%

NASDAQ ERII opened at $8.65 on Thursday. Energy Recovery, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $18.32. The business has a fifty day moving average of $10.17 and a 200-day moving average of $12.85. The stock has a market cap of $445.82 million, a price-to-earnings ratio of 22.76 and a beta of 1.04.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). The company had revenue of $9.71 million for the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. As a group, analysts anticipate that Energy Recovery, Inc. will post 0.03 EPS for the current year.

Energy Recovery 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.