Essex Investment Management Co. LLC Decreases Position in Energy Recovery, Inc. (NASDAQ:ERII)

Essex Investment Management Co. LLC reduced its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,331 shares of the industrial products company's stock after selling 18,095 shares during the period. Essex Investment Management Co. LLC owned approximately 0.38% of Energy Recovery worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Avanza Fonder AB bought a new position in Energy Recovery in the fourth quarter valued at about $107,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Energy Recovery by 8.8% during 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 purchasing an additional 1,433 shares during the last quarter. Versor Investments LP bought a new position in shares of Energy Recovery in the 3rd quarter worth approximately $377,000. Inspire Investing LLC boosted its holdings in shares of Energy Recovery by 14.8% in the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock worth $409,000 after buying an additional 3,594 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after buying an additional 830 shares during the period. Institutional investors own 83.58% of the company's stock.

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Insider Buying and Selling

In other news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares of the company's stock, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares in the company, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Energy Recovery Trading Down 1.5 %

Shares of ERII traded down $0.25 during trading hours on Thursday, reaching $15.99. 327,345 shares of the stock traded hands, compared to its average volume of 384,848. The company has a market cap of $878.73 million, a P/E ratio of 47.03 and a beta of 1.21. The company's 50-day moving average price is $14.93 and its two-hundred day moving average price is $16.17. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. On average, research analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ERII shares. B. Riley decreased their price target 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. Evercore ISI decreased their target price on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn raised Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. Finally, Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a "buy" rating and a $22.00 price target for the company. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Energy Recovery has an average rating of "Buy" and an average 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.