Van ECK Associates Corp Has $2.69 Million Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Van ECK Associates Corp grew its position in Energy Recovery, Inc. (NASDAQ:ERII) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 142,555 shares of the industrial products company’s stock after purchasing an additional 21,861 shares during the period. Van ECK Associates Corp owned about 0.25% of Energy Recovery worth $2,686,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ERII. New York State Common Retirement Fund raised its holdings in shares of Energy Recovery by 33.0% during the fourth quarter. New York State Common Retirement Fund now owns 745,853 shares of the industrial products company’s stock worth $14,052,000 after acquiring an additional 185,163 shares during the period. Barclays PLC raised its holdings in shares of Energy Recovery by 8.2% during the third quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock worth $466,000 after acquiring an additional 1,671 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Energy Recovery by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock worth $9,198,000 after acquiring an additional 13,247 shares during the period. FMR LLC raised its holdings in shares of Energy Recovery by 376.4% during the third quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after acquiring an additional 3,090,086 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Energy Recovery by 4.6% during the third quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock worth $18,905,000 after acquiring an additional 39,310 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Stock Performance

Shares of ERII opened at $13.87 on Wednesday. Energy Recovery, Inc. has a 52 week low of $12.45 and a 52 week 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. The firm’s 50-day simple moving average is $14.75 and its 200 day simple moving average is $16.46.

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

Wall Street Analyst Weigh In

ERII has been the topic of a number of research analyst reports. Evercore ISI dropped their price objective on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd.

Insider Activity at Energy Recovery

In related news, CEO David W. Moon purchased 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $15.51 per share, for a total transaction of $166,732.50. Following the purchase, the chief executive officer now owns 19,250 shares in the company, valued at $298,567.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Energy Recovery news, CEO David W. Moon acquired 10,750 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $15.51 per share, with a total value of $166,732.50. Following the acquisition, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Yu Lang Mao sold 38,025 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the completion of the sale, the director now directly owns 176,112 shares of the company’s stock, valued at approximately $2,854,775.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,807 shares of company stock worth $1,432,560. Insiders own 4.70% of the company’s stock.

Energy Recovery Company 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.