Energy Recovery, Inc. (NASDAQ:ERII) Short Interest Update

Energy Recovery, Inc. (NASDAQ:ERII) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,620,000 shares, a decrease of 5.8% from the December 15th total of 1,720,000 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average daily volume of 471,400 shares, the short-interest ratio is presently 3.4 days.

Energy Recovery Trading Up 2.9 %

Energy Recovery stock traded up $0.42 during mid-day trading on Friday, hitting $14.77. The company’s stock had a trading volume of 366,601 shares, compared to its average volume of 286,385. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27. The firm has a market capitalization of $855.04 million, a PE ratio of 43.44 and a beta of 1.18. The stock’s fifty day moving average is $15.73 and its two-hundred day moving average is $16.28.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same period last year, the company earned $0.17 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Energy Recovery will post 0.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ERII. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Evercore ISI reduced their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. B. Riley reduced their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Finally, Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.75.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the sale, the director now directly owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. This represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,406 shares of company stock valued at $1,166,088. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV raised its holdings in shares of Energy Recovery by 14.1% in the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after buying an additional 153,381 shares during the period. Federated Hermes Inc. acquired a new position in Energy Recovery in the 2nd quarter valued at about $472,000. Geode Capital Management LLC increased its stake in Energy Recovery by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after purchasing an additional 56,306 shares during the period. Barclays PLC lifted its position in shares of Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 76,393 shares in the last quarter. Finally, Baillie Gifford & Co. acquired a new stake in shares of Energy Recovery during the third quarter worth about $15,237,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

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.