Raymond James & Associates Has $5.18 Million Position in Energy Recovery, Inc. (NASDAQ:ERII)

Raymond James & Associates reduced its position in shares of Energy Recovery, Inc. (NASDAQ:ERII – Get Rating) by 25.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,796 shares of the industrial products company’s stock after selling 86,987 shares during the period. Raymond James & Associates owned about 0.45% of Energy Recovery worth $5,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Energy Recovery during the fourth quarter worth about $367,000. Belpointe Asset Management LLC acquired a new position in shares of Energy Recovery during the fourth quarter worth about $35,000. Montanaro Asset Management Ltd boosted its position in Energy Recovery by 1.2% during the fourth quarter. Montanaro Asset Management Ltd now owns 879,000 shares of the industrial products company’s stock valued at $18,011,000 after purchasing an additional 10,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Energy Recovery by 12.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,344 shares of the industrial products company’s stock valued at $560,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Energy Recovery by 12.7% during the fourth quarter. Van ECK Associates Corp now owns 110,494 shares of the industrial products company’s stock valued at $2,264,000 after purchasing an additional 12,483 shares during the last quarter. 76.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Raymond James increased their price target on Energy Recovery from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, April 5th. StockNews.com assumed coverage on Energy Recovery in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, TheStreet cut Energy Recovery from an “a-” rating to a “c+” rating in a research report on Tuesday, May 9th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Energy Recovery Stock Up 1.0 %

NASDAQ:ERII opened at $25.48 on Tuesday. The stock’s 50 day moving average price is $23.24 and its two-hundred day moving average price is $22.24. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 149.89 and a beta of 1.20. Energy Recovery, Inc. has a 12-month low of $17.32 and a 12-month high of $26.34.

Energy Recovery (NASDAQ:ERII – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.04. The firm had revenue of $13.40 million for the quarter, compared to analyst estimates of $13.04 million. Energy Recovery had a return on equity of 7.54% and a net margin of 9.26%. The business’s revenue for the quarter was down 58.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. Equities research analysts expect that Energy Recovery, Inc. will post 0.46 EPS for the current year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $23.50, for a total value of $376,000.00. Following the sale, the director now owns 868,352 shares in the company, valued at $20,406,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 18,533 shares of company stock worth $436,767 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Energy Recovery Company Profile

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Energy Recovery, Inc engages in the design and manufacture of industrial fluid flow solutions. It operates through the Water and Emerging Technologies segment. The Water segment deals with the development, sales, and support of the PX, Turbochargers and pumps used in seawater desalination and industrial wastewater activities.