UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Energy Recovery, Inc. (NASDAQ:ERII)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,970 shares of the industrial products company’s stock after selling 3,201 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.31% of Energy Recovery worth $3,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. acquired a new stake in Energy Recovery in the third quarter valued at $15,237,000. Alpha Wave Global LP grew its stake in Energy Recovery by 93.0% in the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after acquiring an additional 564,463 shares during the last quarter. Millennium Management LLC grew its stake in Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after acquiring an additional 201,770 shares during the last quarter. KBC Group NV increased its holdings in Energy Recovery by 14.1% during 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 acquiring an additional 153,381 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new position in Energy Recovery during the second quarter worth about $1,841,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ERII. Scotiabank started coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI dropped their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $20.75.

Insider Buying and Selling at Energy Recovery

In related news, CTO Farshad Ghasripoor sold 10,526 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the completion of the sale, the chief technology officer now directly owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. This represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rodney Clemente sold 6,505 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the transaction, the senior vice president now owns 133,823 shares of the company’s stock, valued at $2,406,137.54. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock worth $828,688 in the last quarter. 4.10% of the stock is owned by insiders.

Energy Recovery Stock Down 1.9 %

Shares of NASDAQ:ERII opened at $16.11 on Friday. The business has a fifty day simple moving average of $17.50 and a 200-day simple moving average of $15.95. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27. The company has a market cap of $932.61 million, a P/E ratio of 47.38 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the prior year, the company posted $0.17 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Energy Recovery, Inc. will post 0.39 earnings per share for the current fiscal 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.