Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its position in Energy Recovery, Inc. (NASDAQ:ERII) by 49.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,261 shares of the industrial products company’s stock after selling 38,542 shares during the quarter. BNP Paribas Financial Markets’ holdings in Energy Recovery were worth $683,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Energy Recovery by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 1,330 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Energy Recovery by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,433 shares during the period. Rhumbline Advisers lifted its position in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after buying an additional 1,893 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Energy Recovery in the 2nd quarter valued at about $26,000. Finally, AQR Capital Management LLC grew its position in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ERII has been the topic of a number of recent research reports. Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Evercore ISI reduced 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. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, B. Riley reduced their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Price Performance

Shares of ERII stock opened at $16.42 on Friday. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The firm has a market capitalization of $950.62 million, a price-to-earnings ratio of 48.29 and a beta of 1.18. The business has a 50 day simple moving average of $17.52 and a 200 day simple moving average of $15.93.

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

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the transaction, the senior vice president now directly owns 106,367 shares of the company’s stock, valued at $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief technology officer now owns 126,961 shares in the company, valued at approximately $2,281,489.17. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,406 shares of company stock worth $828,688 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Company Profile

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.