Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC reduced its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,331 shares of the industrial products company’s stock after selling 18,095 shares during the period. Essex Investment Management Co. LLC’s holdings in Energy Recovery were worth $3,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avanza Fonder AB acquired a new position in Energy Recovery in the fourth quarter valued at approximately $107,000. Wealth Enhancement Advisory Services LLC boosted its stake in Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 1,433 shares during the period. Versor Investments LP acquired a new position in Energy Recovery in the third quarter valued at approximately $377,000. Inspire Investing LLC boosted its stake in Energy Recovery by 14.8% in the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 3,594 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in shares of Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock valued at $429,000 after buying an additional 830 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $16.37 on Friday. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The stock has a market cap of $899.61 million, a price-to-earnings ratio of 48.15 and a beta of 1.21. The stock’s 50 day moving average price is $14.83 and its 200 day moving average price is $16.21.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. On average, sell-side analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Evercore ISI cut their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.75.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the sale, the director now owns 743,182 shares of the company’s stock, valued at $12,537,480.34. The trade was a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

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.