Raymond James & Associates Purchases 41,286 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Raymond James & Associates increased its position in Energy Recovery, Inc. (NASDAQ:ERII) by 10.1% during the 3rd quarter, Holdings Channel reports. The firm owned 450,909 shares of the industrial products company’s stock after acquiring an additional 41,286 shares during the quarter. Raymond James & Associates’ holdings in Energy Recovery were worth $7,841,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Trillium Asset Management LLC bought a new stake in Energy Recovery during the 1st quarter valued at $3,774,000. Millennium Management LLC boosted its position in Energy Recovery by 130.3% during 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Energy Recovery during the 1st quarter valued at $2,372,000. Roubaix Capital LLC bought a new stake in Energy Recovery during the 2nd quarter valued at $1,841,000. Finally, Exchange Traded Concepts LLC boosted its position in Energy Recovery by 668.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock valued at $2,522,000 after acquiring an additional 126,148 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Recovery Trading Up 1.6 %

Shares of ERII opened at $17.86 on Thursday. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $19.94. The stock has a fifty day moving average price of $17.17 and a 200-day moving average price of $15.22. The firm has a market cap of $1.02 billion, a PE ratio of 52.53 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data 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 return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $27.20 million during the quarter, compared to analyst estimates of $23.36 million. As a group, research analysts forecast that Energy Recovery, Inc. will post 0.37 EPS for the current year.

Insider Activity

In other news, CEO David W. Moon sold 2,550 shares of the 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 sale, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares in the company, valued at $1,565,204.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David W. Moon bought 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $16.00 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now directly owns 32,750 shares in the company, valued at $524,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 19,581 shares of company stock worth $351,936. Insiders own 4.10% of the company’s stock.

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.