Energy Recovery, Inc. (NASDAQ:ERII) Sees Large Decline in Short Interest

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

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 2,353 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $34,424.39. Following the transaction, the senior vice president now owns 140,328 shares in the company, valued at $2,052,998.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Energy Recovery news, CEO David W. Moon bought 3,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now owns 32,750 shares of the company’s stock, valued at $524,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rodney Clemente sold 2,353 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $34,424.39. Following the sale, the senior vice president now owns 140,328 shares of the company’s stock, valued at approximately $2,052,998.64. The disclosure for this sale can be found here. Insiders sold 8,444 shares of company stock worth $123,536 in the last quarter. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. acquired a new position in Energy Recovery in the 2nd quarter worth $26,000. Sentry Investment Management LLC lifted its stake in Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 1,438 shares in the last quarter. AXA S.A. bought a new stake in shares of Energy Recovery in the second quarter worth $149,000. ProShare Advisors LLC bought a new stake in shares of Energy Recovery in the first quarter worth $158,000. Finally, AQR Capital Management LLC boosted its holdings in Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Energy Recovery Trading Up 2.7 %

Shares of ERII stock traded up $0.44 on Tuesday, hitting $16.45. The stock had a trading volume of 290,601 shares, compared to its average volume of 425,006. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $23.10. The company has a fifty day moving average price of $15.82 and a two-hundred day moving average price of $14.67. The firm has a market cap of $943.08 million, a P/E ratio of 47.09 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $27.20 million for the quarter, compared to analyst estimates of $23.36 million. On average, analysts expect that Energy Recovery will post 0.37 earnings per share for the current year.

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.