Avanza Fonder AB Makes New $107,000 Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Avanza Fonder AB purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,274 shares of the industrial products company’s stock, valued at approximately $107,000.

A number of other institutional investors have also made changes to their positions in ERII. Baillie Gifford & Co. acquired a new position in shares of Energy Recovery during the third quarter valued at about $15,237,000. Alpha Wave Global LP increased its stake in Energy Recovery by 93.0% during the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after acquiring an additional 564,463 shares during the period. Millennium Management LLC raised its holdings in Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after acquiring an additional 201,770 shares in the last quarter. KBC Group NV lifted its position in shares of Energy Recovery by 14.1% in the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after acquiring an additional 153,381 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Energy Recovery by 668.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock worth $2,522,000 after purchasing an additional 126,148 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the transaction, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,406 shares of company stock valued at $1,166,088 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Energy Recovery Stock Up 2.9 %

Shares of ERII stock opened at $14.77 on Tuesday. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The firm has a fifty day moving average of $15.63 and a 200-day moving average of $16.32. The firm has a market capitalization of $855.09 million, a price-to-earnings ratio of 43.44 and a beta of 1.18.

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, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Research analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

ERII has been the subject of a number of recent research reports. Evercore ISI cut their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. B. Riley decreased their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Scotiabank initiated coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.75.

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.