Van ECK Associates Corp Has $1.72 Million Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Van ECK Associates Corp decreased its position in Energy Recovery, Inc. (NASDAQ:ERII) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,177 shares of the industrial products company’s stock after selling 26,606 shares during the period. Van ECK Associates Corp owned about 0.17% of Energy Recovery worth $1,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ERII. Rice Hall James & Associates LLC raised its stake in shares of Energy Recovery by 84.3% in the third quarter. Rice Hall James & Associates LLC now owns 246,472 shares of the industrial products company’s stock valued at $4,286,000 after purchasing an additional 112,754 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in Energy Recovery in the 3rd quarter valued at $193,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Energy Recovery by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after buying an additional 1,433 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Energy Recovery by 10.1% during the 3rd quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock worth $7,841,000 after acquiring an additional 41,286 shares during the period. Finally, Creative Planning boosted its position in shares of Energy Recovery by 53.5% during the 3rd quarter. Creative Planning now owns 37,342 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 13,008 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Insider Transactions at Energy Recovery

In related news, CTO Farshad Ghasripoor sold 10,526 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $189,152.22. Following the transaction, the chief technology officer now owns 126,961 shares in the company, valued at $2,281,489.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the sale, the senior vice president now directly owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Farshad Ghasripoor sold 10,526 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $189,152.22. Following the transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,581 shares of company stock worth $351,936. Insiders own 4.10% of the company’s stock.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $19.71 on Monday. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The business has a fifty day moving average of $17.40 and a two-hundred day moving average of $15.51. The stock has a market cap of $1.14 billion, a PE ratio of 57.97 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Analysts predict that Energy Recovery, Inc. will post 0.41 earnings per share for the current year.

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.