Mainstay Capital Management LLC ADV trimmed its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,600 shares of the industrial products company’s stock after selling 6,535 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Energy Recovery were worth $180,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ERII. Wells Fargo & Company MN increased its position in Energy Recovery by 26.2% during the third quarter. Wells Fargo & Company MN now owns 113,529 shares of the industrial products company’s stock worth $1,016,000 after acquiring an additional 23,583 shares during the period. JPMorgan Chase & Co. grew its stake in Energy Recovery by 63.4% during the third quarter. JPMorgan Chase & Co. now owns 81,563 shares of the industrial products company’s stock worth $730,000 after buying an additional 31,658 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Energy Recovery by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 135,969 shares of the industrial products company’s stock worth $1,217,000 after buying an additional 7,480 shares in the last quarter. BlackRock Inc. grew its stake in Energy Recovery by 0.9% during the third quarter. BlackRock Inc. now owns 2,479,926 shares of the industrial products company’s stock worth $22,197,000 after buying an additional 21,746 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its stake in Energy Recovery by 39.4% during the third quarter. MetLife Investment Advisors LLC now owns 25,079 shares of the industrial products company’s stock worth $224,000 after buying an additional 7,083 shares in the last quarter. 34.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of ERII traded down $0.03 during mid-day trading on Tuesday, reaching $9.53. The company had a trading volume of 124,436 shares, compared to its average volume of 202,094. Energy Recovery, Inc. has a 1-year low of $6.17 and a 1-year high of $10.25. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.11. The company has a market cap of $513.48 million, a P/E ratio of 47.65 and a beta of 4.81.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Thursday, March 7th. The industrial products company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Energy Recovery had a net margin of 36.99% and a return on equity of 10.25%. The company had revenue of $17.71 million for the quarter, compared to the consensus estimate of $15.68 million. On average, equities analysts forecast that Energy Recovery, Inc. will post 0.26 EPS for the current year.

In related news, Director Arve Hanstveit sold 139,042 shares of Energy Recovery stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $8.50, for a total transaction of $1,181,857.00. Following the sale, the director now directly owns 1,134,842 shares in the company, valued at approximately $9,646,157. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Rodney Clemente sold 53,036 shares of Energy Recovery stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $8.85, for a total transaction of $469,368.60. Following the sale, the vice president now owns 69,564 shares in the company, valued at $615,641.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 227,370 shares of company stock worth $1,959,034. 23.80% of the stock is currently owned by corporate insiders.

A number of equities research analysts have issued reports on ERII shares. ValuEngine downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. B. Riley reiterated a “buy” rating on shares of Energy Recovery in a research note on Friday, December 28th. BidaskClub upgraded shares of Energy Recovery from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet downgraded shares of Energy Recovery from a “b-” rating to a “c+” rating in a research note on Friday, December 28th. Finally, JMP Securities reiterated a “buy” rating and set a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $14.33.

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Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

See Also: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for Energy Recovery (NASDAQ:ERII)

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