SG Americas Securities LLC Has $794,000 Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

SG Americas Securities LLC reduced its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 53.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,969 shares of the industrial products company’s stock after selling 56,332 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Energy Recovery worth $794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ERII. Schroder Investment Management Group bought a new stake in Energy Recovery in the 4th quarter valued at about $160,000. Nebula Research & Development LLC grew its position in shares of Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new position in Energy Recovery in the 1st quarter worth approximately $178,000. Polymer Capital Management US LLC bought a new stake in Energy Recovery in the 4th quarter worth approximately $211,000. Finally, Two Sigma Investments LP purchased a new position in shares of Energy Recovery in the fourth quarter worth about $229,000. 83.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ERII has been the subject of a number of research analyst reports. B. Riley lowered Energy Recovery from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $12.50 in a research note on Thursday, May 8th. Fearnley Fonds raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $18.88.

Insider Activity

In other news, CEO David W. Moon purchased 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $51,240.00. Following the purchase, the chief executive officer now directly owns 36,950 shares of the company’s stock, valued at $450,790. This represents a 12.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.75, for a total value of $255,000.00. Following the completion of the sale, the director now directly owns 685,220 shares of the company’s stock, valued at approximately $8,736,555. This trade represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Energy Recovery Trading Down 0.2%

NASDAQ ERII opened at $12.18 on Friday. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The company has a fifty day simple moving average of $13.47 and a two-hundred day simple moving average of $14.66. The stock has a market cap of $663.81 million, a P/E ratio of 32.92 and a beta of 1.02.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The company had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. During the same period in the prior year, the business posted ($0.08) EPS. Energy Recovery’s revenue was down 33.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Energy Recovery Profile

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.