Montanaro Asset Management Ltd Sells 77,400 Shares of Energy Recovery, Inc. $ERII

Montanaro Asset Management Ltd lessened its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 37.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128,160 shares of the industrial products company’s stock after selling 77,400 shares during the period. Montanaro Asset Management Ltd owned approximately 0.24% of Energy Recovery worth $1,729,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ERII. Royce & Associates LP purchased a new position in Energy Recovery in the third quarter worth $4,898,000. GSA Capital Partners LLP increased its position in shares of Energy Recovery by 167.4% during the 4th quarter. GSA Capital Partners LLP now owns 109,307 shares of the industrial products company’s stock valued at $1,475,000 after purchasing an additional 68,431 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Energy Recovery by 23.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 308,006 shares of the industrial products company’s stock valued at $4,749,000 after purchasing an additional 59,078 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Energy Recovery by 2.4% during 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 purchasing an additional 89,696 shares during the last quarter. Finally, Isthmus Partners LLC bought a new stake in shares of Energy Recovery during the 4th quarter worth $1,498,000. 83.58% of the stock is owned by institutional investors.

Insider Activity at Energy Recovery

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ERII. Loop Capital set a $13.00 price target on shares of Energy Recovery in a report on Monday, March 2nd. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Northcoast Research downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.00.

Energy Recovery Price Performance

Shares of ERII opened at $9.42 on Friday. The firm has a market cap of $485.51 million, a PE ratio of 24.79 and a beta of 0.94. The stock’s fifty day moving average price is $9.43 and its two-hundred day moving average price is $11.90. Energy Recovery, Inc. has a 1 year low of $7.83 and a 1 year high of $18.32.

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

Energy Recovery 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.