Lagoda Investment Management L.P. Sells 16,095 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Lagoda Investment Management L.P. lessened its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 190,770 shares of the industrial products company’s stock after selling 16,095 shares during the period. Energy Recovery makes up about 1.5% of Lagoda Investment Management L.P.’s investment portfolio, making the stock its 16th largest position. Lagoda Investment Management L.P. owned about 0.33% of Energy Recovery worth $2,804,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Avanza Fonder AB bought a new stake in Energy Recovery in the fourth quarter worth $107,000. Schroder Investment Management Group bought a new stake in Energy Recovery in the fourth quarter worth $160,000. Nebula Research & Development LLC increased its position in Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 687 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Energy Recovery during the fourth quarter valued at $211,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Energy Recovery during the fourth quarter valued at $234,000. Institutional investors own 83.58% of the company’s stock.

Insider Activity

In other news, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ERII shares. B. Riley cut shares of Energy Recovery from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $12.50 in a research report on Thursday. StockNews.com cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.88.

Energy Recovery Trading Down 7.3%

Shares of ERII opened at $11.36 on Monday. The firm has a market capitalization of $622.03 million, a P/E ratio of 33.41 and a beta of 1.09. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The firm has a fifty day moving average price of $15.35 and a 200-day moving average price of $15.61.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The company had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $21.97 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm’s revenue for the quarter was down 33.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

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.