Energy Recovery, Inc. (NASDAQ:ERII) Stock Holdings Lessened by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 237,426 shares of the industrial products company’s stock after selling 7,262 shares during the period. Essex Investment Management Co. LLC owned about 0.41% of Energy Recovery worth $4,129,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ERII. Hantz Financial Services Inc. acquired a new position in shares of Energy Recovery in the 2nd quarter valued at $26,000. CWM LLC lifted its stake in Energy Recovery by 5,032.5% during the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after buying an additional 4,177 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in shares of 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 buying an additional 1,438 shares during the period. AXA S.A. purchased a new position in shares of Energy Recovery in the second quarter worth approximately $149,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Energy Recovery during the first quarter valued at approximately $158,000. 83.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Rodney Clemente sold 2,353 shares of Energy Recovery stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $34,424.39. Following the completion of the sale, the senior vice president now directly owns 140,328 shares in the company, valued at $2,052,998.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Energy Recovery news, SVP Rodney Clemente sold 2,353 shares of Energy Recovery 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 sale, the senior vice president now directly owns 140,328 shares in the company, valued at $2,052,998.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Moon bought 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $16.00 per share, with a total value of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 8,444 shares of company stock valued at $123,536 in the last three months. Insiders own 4.10% of the company’s stock.

Energy Recovery Price Performance

ERII traded up $0.03 on Friday, reaching $18.65. 297,342 shares of the company traded hands, compared to its average volume of 413,846. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 54.85 and a beta of 1.23. The stock’s 50 day moving average price is $16.84 and its 200-day moving average price is $14.97. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.69.

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

Analyst Upgrades and Downgrades

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

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.