Inspire Investing LLC Buys 3,594 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Inspire Investing LLC boosted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 14.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,801 shares of the industrial products company’s stock after acquiring an additional 3,594 shares during the period. Inspire Investing LLC’s holdings in Energy Recovery were worth $409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Energy Recovery by 5,032.5% during the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after buying an additional 4,177 shares in the last quarter. Avanza Fonder AB acquired a new position in Energy Recovery during the 4th quarter worth approximately $107,000. AXA S.A. acquired a new position in Energy Recovery during the 2nd quarter worth approximately $149,000. AQR Capital Management LLC grew its stake in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 1,986 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Energy Recovery in the third quarter valued at approximately $193,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ERII shares. Evercore ISI reduced their target price on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective for the company. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, B. Riley lowered their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Performance

Shares of ERII stock opened at $14.40 on Friday. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The stock has a market cap of $833.67 million, a price-to-earnings ratio of 42.35 and a beta of 1.18. The firm’s 50-day moving average is $15.28 and its 200-day moving average is $16.35.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at Energy Recovery

In related news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 6,505 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the transaction, the senior vice president now directly owns 133,823 shares in the company, valued at approximately $2,406,137.54. This represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,406 shares of company stock worth $1,166,088. Company insiders own 4.10% 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.