Wedbush Securities Inc. lessened its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,000 shares of the industrial products company’s stock after selling 1,875 shares during the quarter. Wedbush Securities Inc. owned 0.07% of Energy Recovery worth $396,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ERII. Trigran Investments Inc. lifted its stake in shares of Energy Recovery by 9.4% during the first quarter. Trigran Investments Inc. now owns 3,112,303 shares of the industrial products company’s stock worth $27,170,000 after purchasing an additional 268,501 shares in the last quarter. KBC Group NV lifted its stake in shares of Energy Recovery by 508.9% during the second quarter. KBC Group NV now owns 313,451 shares of the industrial products company’s stock worth $3,266,000 after purchasing an additional 261,971 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Energy Recovery by 23.3% during the first quarter. First Trust Advisors LP now owns 533,469 shares of the industrial products company’s stock worth $4,657,000 after purchasing an additional 100,752 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Energy Recovery by 36.8% during the fourth quarter. Bank of New York Mellon Corp now owns 185,978 shares of the industrial products company’s stock worth $1,251,000 after purchasing an additional 50,009 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Energy Recovery during the first quarter worth about $308,000. Institutional investors own 32.32% of the company’s stock.
NASDAQ:ERII opened at $8.82 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.76 and a current ratio of 5.09. Energy Recovery, Inc. has a one year low of $6.17 and a one year high of $12.04. The business’s 50-day simple moving average is $10.63 and its 200 day simple moving average is $9.55. The stock has a market cap of $486.99 million, a price-to-earnings ratio of 44.10 and a beta of 4.32.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Energy Recovery had a return on equity of 10.89% and a net margin of 20.21%. The business had revenue of $22.80 million for the quarter, compared to analysts’ expectations of $20.53 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Energy Recovery, Inc. will post 0.13 EPS for the current year.
ERII has been the topic of a number of recent research reports. Zacks Investment Research cut Energy Recovery from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine cut Energy Recovery from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. TheStreet upgraded Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. BidaskClub cut Energy Recovery from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Evercore ISI reiterated a “buy” rating and issued a $18.00 price target on shares of Energy Recovery in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Energy Recovery presently has an average rating of “Hold” and a consensus price target of $14.25.
In related news, VP Rodney Clemente sold 36,946 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.92, for a total value of $440,396.32. Following the transaction, the vice president now owns 81,299 shares in the company, valued at $969,084.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hans Peter Michelet sold 84,986 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.35, for a total value of $879,605.10. Following the completion of the transaction, the director now owns 28,126 shares in the company, valued at approximately $291,104.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,747 shares of company stock worth $1,919,829. Insiders own 23.80% of the company’s stock.
About Energy Recovery
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.
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