Short Interest in Energy Recovery, Inc. (NASDAQ:ERII) Declines By 10.5%

Energy Recovery, Inc. (NASDAQ:ERII) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,220,000 shares, a decrease of 10.5% from the August 15th total of 2,480,000 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily volume of 401,000 shares, the days-to-cover ratio is currently 5.5 days.

Insider Activity

In related news, CEO David W. Moon purchased 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.00 per share, with a total value of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David W. Moon purchased 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.00 per share, with a total value of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Farshad Ghasripoor sold 4,079 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $59,675.77. Following the sale, the chief technology officer now directly owns 137,487 shares in the company, valued at approximately $2,011,434.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,444 shares of company stock valued at $123,536. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Brown Capital Management LLC lifted 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 acquiring an additional 1,711,129 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Energy Recovery by 391.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock valued at $1,235,000 after acquiring an additional 62,287 shares during the last quarter. KBC Group NV lifted its stake in shares of Energy Recovery by 17.2% in the 4th quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock valued at $20,458,000 after acquiring an additional 159,143 shares during the last quarter. Robeco Schweiz AG raised its position in Energy Recovery by 21.2% during the 4th quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company’s stock worth $11,648,000 after purchasing an additional 108,130 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Energy Recovery during the 1st quarter worth $2,372,000. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Stock Up 2.4 %

Shares of ERII stock traded up $0.39 during trading hours on Wednesday, reaching $16.84. The company’s stock had a trading volume of 437,079 shares, compared to its average volume of 425,073. The firm’s 50 day simple moving average is $15.88 and its 200-day simple moving average is $14.67. The company has a market capitalization of $965.44 million, a price-to-earnings ratio of 48.38 and a beta of 1.22. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $23.05.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The company had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.36 million. Sell-side analysts predict that Energy Recovery will post 0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of research analyst reports. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Tuesday, July 9th.

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.