Rice Hall James & Associates LLC Raises Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Rice Hall James & Associates LLC raised its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 84.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 246,472 shares of the industrial products company’s stock after acquiring an additional 112,754 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Energy Recovery were worth $4,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Trillium Asset Management LLC bought a new stake in shares of Energy Recovery in the 1st quarter worth about $3,774,000. Millennium Management LLC lifted its position in shares of Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after purchasing an additional 201,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Energy Recovery in the 1st quarter worth approximately $2,372,000. Roubaix Capital LLC purchased a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $1,841,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Energy Recovery by 668.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock worth $2,522,000 after purchasing an additional 126,148 shares during the period. 83.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ERII. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James raised shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Tuesday, July 9th.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon acquired 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $16.00 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now owns 32,750 shares of the company’s stock, valued at $524,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Energy Recovery news, CEO David W. Moon acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the sale, the senior vice president now owns 133,823 shares in the company, valued at $2,406,137.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,581 shares of company stock valued at $351,936. 4.10% of the stock is owned by company insiders.

Energy Recovery Stock Performance

NASDAQ ERII opened at $17.86 on Friday. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $19.94. The firm has a 50 day simple moving average of $17.16 and a 200-day simple moving average of $15.26. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 52.53 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 9.07%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. Equities analysts predict that Energy Recovery, Inc. will post 0.37 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.