Exchange Traded Concepts LLC Increases Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Exchange Traded Concepts LLC grew its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 668.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,022 shares of the industrial products company’s stock after buying an additional 126,148 shares during the period. Exchange Traded Concepts LLC owned 0.25% of Energy Recovery worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Energy Recovery by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 155,878 shares of the industrial products company’s stock valued at $2,937,000 after acquiring an additional 5,184 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of Energy Recovery in the first quarter worth about $632,000. Chatham Capital Group Inc. boosted its stake in Energy Recovery by 11.7% during the first quarter. Chatham Capital Group Inc. now owns 77,551 shares of the industrial products company’s stock valued at $1,225,000 after buying an additional 8,145 shares during the last quarter. Anchor Capital Management Company LLC grew its holdings in Energy Recovery by 39.1% during the 1st quarter. Anchor Capital Management Company LLC now owns 355,500 shares of the industrial products company’s stock valued at $5,613,000 after buying an additional 100,000 shares in the last quarter. Finally, Mission Wealth Management LP bought a new stake in Energy Recovery in the 1st quarter worth approximately $703,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Energy Recovery

In other news, CEO David W. Moon acquired 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $16.00 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at $524,000. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CTO Farshad Ghasripoor sold 4,079 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $59,675.77. Following the transaction, the chief technology officer now directly owns 137,487 shares in the company, valued at approximately $2,011,434.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David W. Moon acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought 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 directly owns 32,750 shares in the company, valued at $524,000. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 8,444 shares of company stock worth $123,536. 4.10% of the stock is currently owned by insiders.

Energy Recovery Price Performance

NASDAQ:ERII opened at $18.37 on Tuesday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 54.03 and a beta of 1.23. The business has a 50 day simple moving average of $16.84 and a 200-day simple moving average of $14.97. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $19.94.

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