Hsbc Holdings PLC purchased a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 78,741 shares of the industrial products company’s stock, valued at approximately $702,000.
Several other institutional investors and hedge funds have also modified their holdings of ERII. GSA Capital Partners LLP lifted its stake in Energy Recovery by 167.4% in the fourth quarter. GSA Capital Partners LLP now owns 109,307 shares of the industrial products company’s stock valued at $1,475,000 after buying an additional 68,431 shares in the last quarter. Kopion Asset Management LLC increased its position in shares of Energy Recovery by 26.2% during the second quarter. Kopion Asset Management LLC now owns 639,545 shares of the industrial products company’s stock worth $5,769,000 after acquiring an additional 132,580 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Energy Recovery during the second quarter worth $18,579,000. Vanguard Group Inc. lifted its position in Energy Recovery by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after acquiring an additional 89,696 shares in the last quarter. Finally, Amundi boosted its stake in Energy Recovery by 31.2% in the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock worth $37,648,000 after purchasing an additional 888,618 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Energy Recovery
In related news, Director Colin R. Sabol purchased 11,180 shares of Energy Recovery stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $8.88 per share, with a total value of $99,278.40. Following the completion of the transaction, the director owned 55,671 shares of the company’s stock, valued at approximately $494,358.48. This trade represents a 25.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the transaction, the senior vice president owned 108,301 shares of the company’s stock, valued at approximately $927,056.56. This represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.50% of the company’s stock.
Analyst Ratings Changes
View Our Latest Report on Energy Recovery
Energy Recovery Price Performance
Shares of NASDAQ:ERII opened at $7.58 on Thursday. The company’s 50-day moving average price is $8.40 and its two-hundred day moving average price is $9.64. Energy Recovery, Inc. has a one year low of $7.51 and a one year high of $18.32. The stock has a market capitalization of $390.67 million, a PE ratio of 27.07 and a beta of 0.90.
Energy Recovery (NASDAQ:ERII – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $12.00 million during the quarter, compared to the consensus estimate of $18.36 million. Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. On average, analysts anticipate that Energy Recovery, Inc. will post -0.17 earnings per share for the current fiscal 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.
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