Sargent Investment Group LLC Acquires 14,410 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Sargent Investment Group LLC lifted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 328,189 shares of the industrial products company’s stock after acquiring an additional 14,410 shares during the period. Energy Recovery accounts for about 1.0% of Sargent Investment Group LLC’s investment portfolio, making the stock its 25th largest holding. Sargent Investment Group LLC owned about 0.57% of Energy Recovery worth $5,707,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. KBC Group NV increased its position in Energy Recovery by 14.1% during the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after buying an additional 153,381 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Energy Recovery in the 3rd quarter worth $15,237,000. Versor Investments LP purchased a new position in Energy Recovery during the third quarter valued at $377,000. Summit Global Investments purchased a new position in Energy Recovery during the third quarter valued at $939,000. Finally, Rice Hall James & Associates LLC lifted its position in Energy Recovery by 84.3% during the third quarter. Rice Hall James & Associates LLC now owns 246,472 shares of the industrial products company’s stock valued at $4,286,000 after purchasing an additional 112,754 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the sale, the senior vice president now owns 133,823 shares of the company’s stock, valued at $2,406,137.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the transaction, the senior vice president now owns 133,823 shares in the company, valued at approximately $2,406,137.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Farshad Ghasripoor sold 10,526 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at approximately $2,281,489.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is currently owned by company insiders.

Energy Recovery Trading Down 1.0 %

ERII traded down $0.19 during midday trading on Thursday, hitting $18.98. 46,252 shares of the company were exchanged, compared to its average volume of 408,438. The company’s 50 day simple moving average is $17.61 and its 200 day simple moving average is $15.61. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 56.38 and a beta of 1.22. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping 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 business had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. During the same period last year, the company posted $0.17 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Energy Recovery, Inc. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.