SG Americas Securities LLC Buys 59,234 Shares of Energy Recovery, Inc. $ERII

SG Americas Securities LLC boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 57.7% in the third quarter, Holdings Channel reports. The firm owned 161,813 shares of the industrial products company’s stock after purchasing an additional 59,234 shares during the quarter. SG Americas Securities LLC’s holdings in Energy Recovery were worth $2,495,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Alpha Wave Global LP raised its position in shares of Energy Recovery by 132.2% in the 2nd quarter. Alpha Wave Global LP now owns 714,321 shares of the industrial products company’s stock valued at $9,129,000 after buying an additional 406,700 shares in the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in Energy Recovery during the second quarter valued at approximately $363,000. Versor Investments LP acquired a new position in Energy Recovery during the second quarter valued at approximately $243,000. Teacher Retirement System of Texas lifted its stake in Energy Recovery by 140.5% during the second quarter. Teacher Retirement System of Texas now owns 65,105 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 38,031 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Energy Recovery by 25.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 112,420 shares of the industrial products company’s stock valued at $1,437,000 after purchasing an additional 22,895 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. CJS Securities assumed coverage on Energy Recovery in a report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Recovery in a research report on Monday, December 29th. Loop Capital set a $18.20 target price on shares of Energy Recovery in a report on Monday, November 10th. Finally, B. Riley restated a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.07.

Energy Recovery Stock Up 0.7%

Shares of ERII stock opened at $14.38 on Wednesday. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $18.32. The stock’s fifty day simple moving average is $14.26 and its 200 day simple moving average is $14.57. The firm has a market capitalization of $761.71 million, a P/E ratio of 42.30 and a beta of 1.08.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $32.00 million for the quarter, compared to analyst estimates of $29.94 million. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at Energy Recovery

In other Energy Recovery news, insider William Yeung sold 9,168 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $18.00, for a total transaction of $165,024.00. Following the sale, the insider directly owned 97,369 shares of the company’s stock, valued at $1,752,642. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arve Hanstveit sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $14.97, for a total transaction of $224,550.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,758 shares of company stock worth $569,604. 3.20% of the stock is owned by corporate insiders.

About Energy Recovery

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.