Rice Hall James & Associates LLC Acquires Shares of 124,629 Energy Recovery, Inc. $ERII

Rice Hall James & Associates LLC purchased a new position in Energy Recovery, Inc. (NASDAQ:ERII) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 124,629 shares of the industrial products company’s stock, valued at approximately $1,124,000. Rice Hall James & Associates LLC owned about 0.24% of Energy Recovery as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Wexford Capital LP bought a new stake in shares of Energy Recovery in the 3rd quarter worth about $27,000. Parallel Advisors LLC bought a new stake in Energy Recovery in the fourth quarter worth about $38,000. Group One Trading LLC purchased a new position in shares of Energy Recovery during the first quarter valued at approximately $41,000. Comerica Bank boosted its position in shares of Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after buying an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake 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 valued at $77,000 after buying an additional 3,803 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Seaport Research Partners reiterated a “buy” rating and set a $12.00 target price on shares of Energy Recovery in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial cut their price target on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.50.

Energy Recovery Stock Down 3.2%

Shares of NASDAQ:ERII opened at $7.88 on Wednesday. The business’s 50 day moving average is $8.60 and its 200 day moving average is $10.22. The stock has a market cap of $406.14 million, a P/E ratio of 28.14 and a beta of 0.91. Energy Recovery, Inc. has a 52-week low of $7.51 and a 52-week high of $18.32.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. The firm had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.36 million. On average, sell-side analysts anticipate that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the transaction, the senior vice president directly owned 108,301 shares in the company, valued at $927,056.56. This represents a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Colin R. Sabol bought 11,180 shares of the business’s stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the transaction, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. This trade represents a 25.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.50% of the company’s stock.

Energy Recovery 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.