Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,100 shares of the industrial products company’s stock after selling 12,700 shares during the period. Swiss National Bank owned 0.20% of Energy Recovery worth $2,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Energy Recovery by 376.4% in 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 in the last quarter. Vanguard Group Inc. grew its position in Energy Recovery by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,893,124 shares of the industrial products company’s stock worth $61,363,000 after purchasing an additional 41,967 shares during the last quarter. Avenir Corp increased its stake in Energy Recovery by 3.9% during the 3rd quarter. Avenir Corp now owns 1,780,540 shares of the industrial products company’s stock valued at $37,765,000 after purchasing an additional 67,184 shares in the last quarter. Invesco Ltd. increased its stake in Energy Recovery by 4.6% during the 3rd quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock valued at $18,905,000 after purchasing an additional 39,310 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Energy Recovery by 33.0% in 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 buying an additional 185,163 shares during the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Evercore ISI decreased their target price on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $13.58 on Friday. The stock has a market cap of $778.54 million, a PE ratio of 39.94 and a beta of 1.26. The firm has a fifty day moving average price of $14.41 and a 200 day moving average price of $16.26. Energy Recovery, Inc. has a 1 year low of $12.45 and a 1 year high of $30.76.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The business had revenue of $12.09 million during the quarter, compared to analyst estimates of $12.49 million. As a group, equities analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the completion of the transaction, the director now directly owns 807,055 shares of the company’s stock, valued at approximately $12,501,281.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the sale, the director now owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David W. Moon acquired 10,500 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $13.46 per share, with a total value of $141,330.00. Following the acquisition, the chief executive officer now directly owns 29,750 shares of the company’s stock, valued at approximately $400,435. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 146,852 shares of company stock worth $2,197,793. Corporate insiders own 4.10% of the company’s stock.

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.