New York State Common Retirement Fund Has $259,000 Position in Energy Recovery, Inc. $ERII

New York State Common Retirement Fund lessened its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 97.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,771 shares of the industrial products company’s stock after selling 561,642 shares during the period. New York State Common Retirement Fund’s holdings in Energy Recovery were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ERII. State of Alaska Department of Revenue bought a new stake in Energy Recovery during the 3rd quarter worth about $46,000. Tower Research Capital LLC TRC lifted its position in shares of Energy Recovery by 172.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 3,803 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Energy Recovery during the second quarter valued at approximately $80,000. Groupe la Francaise bought a new stake in shares of Energy Recovery during the second quarter valued at approximately $153,000. Finally, PDT Partners LLC bought a new position in Energy Recovery in the 2nd quarter worth approximately $159,000. 83.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $14.97, for a total transaction of $224,550.00. Following the sale, the director owned 640,220 shares of the company’s stock, valued at approximately $9,584,093.40. This trade represents a 2.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Yeung sold 7,271 shares of Energy Recovery stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $14.55, for a total value of $105,793.05. Following the transaction, the insider owned 90,098 shares in the company, valued at approximately $1,310,925.90. This represents a 7.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 25,260 shares of company stock valued at $374,213. Corporate insiders own 3.20% of the company’s stock.

Energy Recovery Stock Down 1.0%

ERII stock opened at $15.44 on Thursday. The business’s fifty day moving average is $14.40 and its 200-day moving average is $14.77. The company has a market cap of $817.86 million, a P/E ratio of 45.41 and a beta of 1.09. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $18.32.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ERII. Loop Capital set a $18.20 price objective on Energy Recovery in a report on Monday, November 10th. B. Riley Financial reaffirmed a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Recovery in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.07.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.