Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd lessened its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 14.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 422,400 shares of the industrial products company’s stock after selling 73,600 shares during the quarter. Montanaro Asset Management Ltd’s holdings in Energy Recovery were worth $6,209,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after acquiring an additional 56,306 shares in the last quarter. Barclays PLC increased its position in shares of Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock valued at $1,681,000 after purchasing an additional 76,393 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock valued at $6,989,000 after purchasing an additional 6,834 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Energy Recovery by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock worth $4,780,000 after purchasing an additional 109,847 shares during the last quarter. Finally, Alpha Wave Global LP grew its stake in shares of Energy Recovery by 93.0% during the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock worth $20,374,000 after purchasing an additional 564,463 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Scotiabank initiated coverage on Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 target price for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Energy Recovery presently has an average rating of “Buy” and a consensus price target of $20.75.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the sale, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This represents a 16.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Energy Recovery Price Performance

Shares of ERII opened at $16.54 on Thursday. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The stock has a market cap of $908.96 million, a PE ratio of 48.65 and a beta of 1.21. The firm has a fifty day moving average price of $15.27 and a 200 day moving average price of $16.18.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities analysts expect that Energy Recovery, Inc. will post 0.36 EPS 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.