Invesco Ltd. lessened its position in Energy Recovery, Inc. (NASDAQ:ERII – Free Report) by 29.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 604,078 shares of the industrial products company’s stock after selling 254,231 shares during the period. Invesco Ltd. owned 1.10% of Energy Recovery worth $9,599,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in ERII. Nebula Research & Development LLC grew its holdings in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 687 shares during the last quarter. Juncture Wealth Strategies LLC bought a new stake in Energy Recovery in the 1st quarter worth $178,000. Two Sigma Investments LP bought a new stake in Energy Recovery in the 4th quarter worth $229,000. ProShare Advisors LLC grew its holdings in Energy Recovery by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 15,993 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 5,264 shares during the last quarter. Finally, Clear Creek Financial Management LLC grew its holdings in Energy Recovery by 5.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 850 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on ERII. Wall Street Zen lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Fearnley Fonds upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, B. Riley upped their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $18.67.
Insiders Place Their Bets
In other news, Director Arve Hanstveit sold 30,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $380,400.00. Following the sale, the director owned 655,220 shares in the company, valued at approximately $8,308,189.60. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.97, for a total value of $75,256.39. Following the transaction, the senior vice president owned 100,765 shares of the company’s stock, valued at $1,407,687.05. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,387 shares of company stock worth $710,656. Company insiders own 3.20% of the company’s stock.
Energy Recovery Trading Up 3.8%
Shares of ERII stock opened at $14.73 on Monday. Energy Recovery, Inc. has a 12 month low of $10.86 and a 12 month high of $20.27. The stock has a market cap of $783.64 million, a PE ratio of 35.07 and a beta of 1.03. The company’s fifty day moving average price is $13.38 and its 200-day moving average price is $14.13.
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.
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