Energy Recovery, Inc. (NASDAQ:ERII) Stock Position Lifted by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,239 shares of the industrial products company’s stock after acquiring an additional 3,176 shares during the quarter. HighTower Advisors LLC’s holdings in Energy Recovery were worth $578,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Alpha Wave Global LP grew its position in shares of Energy Recovery by 93.0% during 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 buying an additional 564,463 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Energy Recovery by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock valued at $8,150,000 after acquiring an additional 7,440 shares during the period. Sargent Investment Group LLC grew its holdings in shares of Energy Recovery by 4.6% during the third quarter. Sargent Investment Group LLC now owns 328,189 shares of the industrial products company’s stock valued at $5,707,000 after purchasing an additional 14,410 shares during the last quarter. KBC Group NV grew its holdings in shares of 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 last quarter. Finally, Baillie Gifford & Co. acquired a new stake in shares of Energy Recovery during the 3rd quarter worth approximately $15,237,000. 83.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the transaction, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Farshad Ghasripoor sold 10,526 shares of Energy Recovery 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 transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,406 shares of company stock valued at $1,166,088 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ERII. Scotiabank started coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective for the company. B. Riley lowered their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI dropped their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Stock Down 1.4 %

Shares of NASDAQ ERII opened at $15.16 on Friday. The stock has a market cap of $877.67 million, a P/E ratio of 44.59 and a beta of 1.18. The firm’s 50-day simple moving average is $17.29 and its 200 day simple moving average is $16.01. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week 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, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. Energy Recovery’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts anticipate that Energy Recovery, Inc. will post 0.39 earnings per share for the current fiscal year.

Energy Recovery 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.