Van ECK Associates Corp Grows Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Van ECK Associates Corp boosted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,555 shares of the industrial products company’s stock after buying an additional 21,861 shares during the quarter. Van ECK Associates Corp’s holdings in Energy Recovery were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in Energy Recovery in the third quarter worth $29,000. Catalyst Capital Advisors LLC bought a new stake in Energy Recovery during the third quarter valued at $29,000. Clear Street Markets LLC bought a new stake in Energy Recovery during the third quarter valued at $33,000. Sentry Investment Management LLC bought a new stake in Energy Recovery during the fourth quarter valued at $117,000. Finally, Commonwealth Equity Services LLC boosted its stake in Energy Recovery by 7.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,223 shares of the industrial products company’s stock valued at $259,000 after buying an additional 830 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Evercore ISI dropped their price target on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th.

Energy Recovery Stock Up 3.3 %

Shares of ERII stock opened at $13.87 on Wednesday. The business has a 50-day moving average price of $14.75 and a two-hundred day moving average price of $16.46. Energy Recovery, Inc. has a 12-month low of $12.45 and a 12-month high of $30.76. The firm has a market cap of $795.17 million, a P/E ratio of 40.79 and a beta of 1.26.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The firm had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. During the same period last year, the firm earned $0.24 EPS. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, research analysts expect that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the transaction, the director now owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the transaction, the director now owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David W. Moon acquired 10,750 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $15.51 per share, for a total transaction of $166,732.50. Following the acquisition, the chief executive officer now owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The disclosure for this purchase can be found here. Insiders sold a total of 90,807 shares of company stock valued at $1,432,560 over the last 90 days. Insiders own 4.70% of the company’s stock.

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.