Energy Recovery, Inc. (NASDAQ:ERII) Sees Significant Increase in Short Interest

Energy Recovery, Inc. (NASDAQ:ERII) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 2,300,000 shares, an increase of 8.5% from the September 15th total of 2,120,000 shares. Based on an average daily trading volume, of 383,600 shares, the short-interest ratio is currently 6.0 days. Approximately 4.1% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities analysts have recently commented on ERII shares. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, July 9th.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 2,353 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $34,424.39. Following the completion of the transaction, the senior vice president now directly owns 140,328 shares in the company, valued at $2,052,998.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Farshad Ghasripoor sold 4,079 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $59,675.77. Following the completion of the sale, the chief technology officer now owns 137,487 shares in the company, valued at approximately $2,011,434.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 2,353 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $34,424.39. Following the completion of the transaction, the senior vice president now directly owns 140,328 shares in the company, valued at approximately $2,052,998.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,444 shares of company stock valued at $123,536 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 1,330 shares during the last quarter. Sentry Investment Management LLC lifted its stake in Energy Recovery by 23.2% in the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,438 shares during the last quarter. Rhumbline Advisers lifted its stake in Energy Recovery by 2.0% in the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 1,893 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the second quarter worth approximately $26,000. Finally, AQR Capital Management LLC increased its stake in Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Stock Up 0.4 %

NASDAQ ERII traded up $0.08 during trading on Thursday, hitting $18.01. 370,103 shares of the stock traded hands, compared to its average volume of 412,750. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $19.94. The firm has a 50-day simple moving average of $16.97 and a 200-day simple moving average of $15.02. The company has a market capitalization of $1.03 billion, a P/E ratio of 52.97 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.10. The company had revenue of $27.20 million for the quarter, compared to analysts’ expectations of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. As a group, research analysts predict that Energy Recovery will post 0.37 EPS for the current fiscal year.

Energy Recovery Company Profile

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.