BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 6.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 256,468 shares of the industrial products company’s stock after selling 17,417 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.44% of Energy Recovery worth $4,460,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sargent Investment Group LLC grew its position in shares of Energy Recovery by 4.6% during the 3rd quarter. Sargent Investment Group LLC now owns 328,189 shares of the industrial products company’s stock valued at $5,707,000 after acquiring an additional 14,410 shares during the period. KBC Group NV grew its holdings in Energy Recovery by 14.1% during the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after purchasing an additional 153,381 shares during the period. Baillie Gifford & Co. purchased a new stake in Energy Recovery in the third quarter worth $15,237,000. Versor Investments LP bought a new stake in shares of Energy Recovery in the third quarter valued at $377,000. Finally, Summit Global Investments purchased a new position in shares of Energy Recovery during the 3rd quarter valued at $939,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Farshad Ghasripoor sold 10,526 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. The trade was a 7.66 % 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 the SEC website. Also, SVP Rodney Clemente sold 6,505 shares of the firm’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 sale, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. This represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock worth $828,688 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of research reports. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Evercore ISI cut their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Finally, B. Riley lowered their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Energy Recovery Trading Up 1.1 %

Shares of NASDAQ:ERII opened at $15.80 on Monday. The company has a 50 day moving average of $17.78 and a 200 day moving average of $15.72. The stock has a market cap of $914.66 million, a P/E ratio of 46.47 and a beta of 1.22. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results 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 firm had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. During the same period in the previous year, the business earned $0.17 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Energy Recovery, Inc. will post 0.41 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.