Rice Hall James & Associates LLC Takes $1.12 Million Position in Energy Recovery, Inc. $ERII

Rice Hall James & Associates LLC purchased a new position in Energy Recovery, Inc. (NASDAQ:ERII) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 124,629 shares of the industrial products company’s stock, valued at approximately $1,124,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Energy Recovery by 43.1% in the first quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 4,899 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Energy Recovery during the first quarter valued at about $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Energy Recovery by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock valued at $714,000 after buying an additional 3,185 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Energy Recovery by 10.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company’s stock valued at $3,274,000 after buying an additional 19,992 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Energy Recovery by 54.4% in the 1st quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock valued at $1,944,000 after buying an additional 43,089 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Colin R. Sabol acquired 11,180 shares of the stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the completion of the purchase, the director owned 55,671 shares of the company’s stock, valued at approximately $494,358.48. This represents a 25.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 5,387 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the sale, the senior vice president directly owned 108,301 shares in the company, valued at $927,056.56. This trade represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.50% of the company’s stock.

Energy Recovery Stock Performance

Shares of ERII stock opened at $7.88 on Wednesday. Energy Recovery, Inc. has a fifty-two week low of $7.51 and a fifty-two week high of $18.32. The firm has a market capitalization of $406.14 million, a price-to-earnings ratio of 28.14 and a beta of 0.91. The stock’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $10.22.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $12.00 million during the quarter, compared to analysts’ expectations of $18.36 million. Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. As a group, equities analysts forecast that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ERII. Freedom Capital downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. B. Riley Financial lowered their target price on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Weiss Ratings raised shares of Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Energy Recovery currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.