GSA Capital Partners LLP Takes $1.08 Million Position in Energy Recovery, Inc. $ERII

GSA Capital Partners LLP bought a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERIIFree Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 119,526 shares of the industrial products company’s stock, valued at approximately $1,078,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wexford Capital LP purchased a new position in Energy Recovery in the 3rd quarter worth approximately $27,000. Parallel Advisors LLC acquired a new stake in Energy Recovery in the fourth quarter valued at approximately $38,000. Group One Trading LLC acquired a new stake in Energy Recovery in the first quarter valued at approximately $41,000. Comerica Bank lifted 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 worth $52,000 after purchasing an additional 2,324 shares in the last quarter. Finally, 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. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Stock Down 2.5%

Shares of ERII opened at $8.14 on Tuesday. The business’s 50 day moving average is $8.61 and its two-hundred day moving average is $10.26. Energy Recovery, Inc. has a 52-week low of $7.51 and a 52-week high of $18.32. The firm has a market cap of $419.54 million, a price-to-earnings ratio of 29.07 and a beta of 0.91.

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

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the completion of the transaction, the senior vice president directly owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade 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 company’s stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $8.88 per share, with a total value of $99,278.40. Following the transaction, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. The trade was a 25.13% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on ERII

Energy Recovery Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ERII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Recovery, Inc. (NASDAQ:ERIIFree Report).

Institutional Ownership by Quarter for Energy Recovery (NASDAQ:ERII)

Receive News & Ratings for Energy Recovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery and related companies with MarketBeat.com's FREE daily email newsletter.