Stratos Wealth Partners LTD. Sells 2,609 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Stratos Wealth Partners LTD. decreased its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 15.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,449 shares of the industrial products company’s stock after selling 2,609 shares during the period. Stratos Wealth Partners LTD.’s holdings in Energy Recovery were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ERII. Ameriprise Financial Inc. increased its holdings in shares of Energy Recovery by 24.6% in the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock worth $72,823,000 after buying an additional 978,490 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Energy Recovery in the 4th quarter worth $5,741,000. KLP Kapitalforvaltning AS bought a new position in shares of Energy Recovery in the 4th quarter worth $4,670,000. Duff & Phelps Investment Management Co. bought a new position in shares of Energy Recovery in the 4th quarter worth $3,798,000. Finally, Raiffeisen Bank International AG bought a new position in shares of Energy Recovery in the 4th quarter worth $3,459,000. Institutional investors own 83.58% of the company’s stock.

Insider Buying and Selling at Energy Recovery

In other news, Director Pamela L. Tondreau purchased 4,200 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $12.28 per share, with a total value of $51,576.00. Following the transaction, the director directly owned 41,043 shares of the company’s stock, valued at approximately $504,008.04. This represents a 11.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Moon purchased 4,200 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were purchased at an average cost of $12.20 per share, with a total value of $51,240.00. Following the transaction, the chief executive officer directly owned 36,950 shares in the company, valued at $450,790. This trade represents a 12.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.

Energy Recovery Stock Performance

Shares of Energy Recovery stock opened at $13.45 on Thursday. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The stock has a market capitalization of $733.03 million, a price-to-earnings ratio of 36.35 and a beta of 1.01. The company has a fifty day moving average of $12.61 and a 200-day moving average of $14.26.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). The firm had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $21.97 million. Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The company’s quarterly revenue was down 33.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. On average, equities research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ERII. B. Riley lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Wall Street Zen cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Fearnley Fonds raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $18.17.

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.