Montanaro Asset Management Ltd Sells 77,400 Shares of Energy Recovery, Inc. $ERII

Montanaro Asset Management Ltd cut its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,160 shares of the industrial products company’s stock after selling 77,400 shares during the quarter. Montanaro Asset Management Ltd’s holdings in Energy Recovery were worth $1,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wexford Capital LP purchased a new stake in Energy Recovery during the 3rd quarter worth about $27,000. Parallel Advisors LLC bought a new position in Energy Recovery in the 4th quarter worth about $38,000. Comerica Bank grew its holdings in Energy Recovery by 150.5% during the 4th 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in Energy Recovery by 172.2% during the 2nd 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 in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Energy Recovery during the fourth quarter valued at about $138,000. 83.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Colin R. Sabol bought 11,180 shares of the company’s stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the completion of the transaction, the director directly owned 55,671 shares in the company, valued at $494,358.48. This trade represents a 25.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pamela L. Tondreau purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $8.34 per share, with a total value of $166,800.00. Following the purchase, the director owned 37,362 shares in the company, valued at approximately $311,599.08. This represents a 115.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ERII has been the topic of a number of recent analyst reports. Seaport Research Partners reissued a “buy” rating and issued a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Weiss Ratings cut shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Loop Capital set a $13.00 target price on shares of Energy Recovery in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Energy Recovery currently has an average rating of “Hold” and a consensus price target of $15.00.

Energy Recovery Price Performance

Energy Recovery stock opened at $9.42 on Friday. Energy Recovery, Inc. has a 52 week low of $7.83 and a 52 week high of $18.32. The business has a 50-day simple moving average of $9.43 and a 200 day simple moving average of $11.90. The stock has a market cap of $485.51 million, a price-to-earnings ratio of 24.79 and a beta of 0.94.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The business had revenue of $9.71 million during the quarter, compared to the consensus estimate of $8.37 million. On average, research analysts anticipate that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.

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.