Inspire Investing LLC Purchases 2,418 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Inspire Investing LLC lifted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,954 shares of the industrial products company’s stock after acquiring an additional 2,418 shares during the period. Inspire Investing LLC’s holdings in Energy Recovery were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Brown Capital Management LLC increased its stake in shares of Energy Recovery by 64.7% in the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock valued at $82,085,000 after purchasing an additional 1,711,129 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in Energy Recovery in the fourth quarter valued at about $6,991,000. New York State Common Retirement Fund grew its position in 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 valued at $14,052,000 after acquiring an additional 185,163 shares during the last quarter. KBC Group NV raised its stake in Energy Recovery by 17.2% during the fourth quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock worth $20,458,000 after acquiring an additional 159,143 shares in the last quarter. Finally, Robeco Schweiz AG lifted its holdings in shares of Energy Recovery by 21.2% in the fourth quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company’s stock worth $11,648,000 after acquiring an additional 108,130 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Energy Recovery Price Performance

Shares of ERII stock opened at $15.41 on Wednesday. The stock has a market capitalization of $883.46 million, a PE ratio of 45.32 and a beta of 1.24. The business’s 50 day simple moving average is $13.41 and its 200 day simple moving average is $14.77. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $30.76.

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

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total transaction of $473,550.00. Following the sale, the director now owns 772,055 shares in the company, valued at approximately $10,445,904.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Joshua Ballard sold 4,051 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.54, for a total transaction of $54,850.54. Following the transaction, the chief financial officer now owns 40,376 shares in the company, valued at $546,691.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 35,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total transaction of $473,550.00. Following the transaction, the director now directly owns 772,055 shares in the company, valued at approximately $10,445,904.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,096 shares of company stock valued at $1,084,084. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ERII shares. Raymond James raised shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Tuesday, July 9th. StockNews.com downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

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.