Teton Advisors Inc. Reduces Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Teton Advisors Inc. decreased its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,200 shares of the industrial products company’s stock after selling 800 shares during the period. Teton Advisors Inc.’s holdings in Energy Recovery were worth $550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new position in Energy Recovery in the third quarter worth $29,000. Catalyst Capital Advisors LLC bought a new position in shares of Energy Recovery during the third quarter valued at $29,000. Clear Street Markets LLC bought a new stake in Energy Recovery in the 3rd quarter worth about $33,000. Sentry Investment Management LLC bought a new stake in Energy Recovery in the 4th quarter worth about $117,000. Finally, Commonwealth Equity Services LLC increased its holdings in Energy Recovery by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,223 shares of the industrial products company’s stock worth $259,000 after buying an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Price Performance

Shares of ERII stock traded down $1.61 during mid-day trading on Thursday, hitting $13.04. The stock had a trading volume of 1,465,586 shares, compared to its average volume of 458,558. Energy Recovery, Inc. has a 12-month low of $12.45 and a 12-month high of $30.76. The firm has a market capitalization of $747.58 million, a P/E ratio of 34.68 and a beta of 1.26. The firm’s 50-day moving average is $14.87 and its two-hundred day moving average is $16.62.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. The business had revenue of $57.19 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. Analysts expect that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Separately, Evercore ISI reduced their price objective on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon purchased 10,750 shares of the stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $15.51 per share, with a total value of $166,732.50. Following the completion of the purchase, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO David W. Moon acquired 10,750 shares of Energy Recovery stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $15.51 per share, for a total transaction of $166,732.50. Following the completion of the transaction, the chief executive officer now owns 19,250 shares in the company, valued at approximately $298,567.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the sale, the director now owns 807,055 shares in the company, valued at approximately $12,501,281.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,913 shares of company stock valued at $1,478,808. Company insiders own 4.70% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.