Montanaro Asset Management Ltd Sells 73,600 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Montanaro Asset Management Ltd decreased its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,400 shares of the industrial products company's stock after selling 73,600 shares during the period. Montanaro Asset Management Ltd owned about 0.73% of Energy Recovery worth $6,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC lifted its position in shares of Energy Recovery by 2.9% during the 4th 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 last quarter. Nordea Investment Management AB boosted its position in Energy Recovery by 1.3% during the fourth quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company's stock worth $1,859,000 after purchasing an additional 1,618 shares during the period. Van ECK Associates Corp raised its position in shares of Energy Recovery by 1.9% in the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock valued at $1,440,000 after purchasing an additional 1,808 shares during the period. HighTower Advisors LLC grew its stake in Energy Recovery by 10.6% in the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company's stock valued at $578,000 after buying an additional 3,176 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in Energy Recovery by 14.8% during the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock valued at $409,000 after acquiring an additional 3,594 shares during the period. 83.58% of the stock is owned by institutional investors.

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Energy Recovery Trading Down 1.2 %

Shares of Energy Recovery stock traded down $0.19 on Monday, hitting $15.76. 66,066 shares of the company traded hands, compared to its average volume of 396,752. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The company has a market cap of $866.09 million, a P/E ratio of 46.34 and a beta of 1.21. The firm's 50-day simple moving average is $15.33 and its 200 day simple moving average is $16.20.

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

Insider Buying and Selling at Energy Recovery

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

Analyst Ratings Changes

ERII has been the subject of a number of analyst reports. Scotiabank began coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a "buy" rating and a $22.00 price objective for the company. Seaport Res Ptn upgraded shares of Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. Finally, StockNews.com upgraded Energy Recovery from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Energy Recovery has an average rating of "Buy" and a consensus price target of $20.75.

Energy Recovery 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.