SG Americas Securities LLC Buys 202,221 Shares of Energy Recovery, Inc. $ERII

SG Americas Securities LLC raised its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 124.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 364,337 shares of the industrial products company’s stock after purchasing an additional 202,221 shares during the period. SG Americas Securities LLC’s holdings in Energy Recovery were worth $3,669,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of Energy Recovery by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock worth $69,025,000 after buying an additional 262,151 shares during the last quarter. Vanguard Group Inc. grew its stake in Energy Recovery by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after buying an additional 89,696 shares during the last quarter. Amundi raised its holdings in Energy Recovery by 323.6% in the 4th quarter. Amundi now owns 2,851,691 shares of the industrial products company’s stock worth $38,457,000 after acquiring an additional 2,178,560 shares during the period. State Street Corp raised its holdings in Energy Recovery by 22.6% in the 4th quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock worth $23,803,000 after acquiring an additional 325,280 shares during the period. Finally, Legal & General Group Plc lifted its position in Energy Recovery by 2.8% during the 4th quarter. Legal & General Group Plc now owns 1,343,847 shares of the industrial products company’s stock worth $18,128,000 after acquiring an additional 36,109 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $8.81 on Tuesday. The company has a market cap of $454.07 million, a PE ratio of 23.18 and a beta of 0.94. The firm has a fifty day moving average price of $9.17 and a two-hundred day moving average price of $11.64. Energy Recovery, Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $18.32.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The company had revenue of $9.71 million for the quarter, compared to the consensus estimate of $8.37 million. Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%. Analysts expect that Energy Recovery, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ERII. Seaport Research Partners restated a “buy” rating and set a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings cut Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Finally, Loop Capital set a $13.00 target price on Energy Recovery in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 165,292 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $10.14, for a total value of $1,676,060.88. Following the completion of the transaction, the director owned 384,928 shares of the company’s stock, valued at $3,903,169.92. This represents a 30.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Colin R. Sabol acquired 11,180 shares of Energy Recovery stock in a transaction on Monday, June 15th. The stock was purchased at an average price of $8.88 per share, with a total value of $99,278.40. Following the transaction, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. This trade represents a 25.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.20% of the stock is owned by company insiders.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.