Inspire Investing LLC Has $409,000 Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Inspire Investing LLC boosted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 14.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,801 shares of the industrial products company’s stock after purchasing an additional 3,594 shares during the period. Inspire Investing LLC’s holdings in Energy Recovery were worth $409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ERII. Mercer Global Advisors Inc. ADV raised its stake in shares of Energy Recovery by 20.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 19,906 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 3,340 shares during the last quarter. Bank of Montreal Can raised its position in Energy Recovery by 450.8% in the 2nd quarter. Bank of Montreal Can now owns 101,351 shares of the industrial products company’s stock valued at $1,348,000 after purchasing an additional 82,950 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Energy Recovery by 18.0% in the second quarter. Squarepoint Ops LLC now owns 238,322 shares of the industrial products company’s stock worth $3,167,000 after purchasing an additional 36,309 shares in the last quarter. AXA S.A. bought a new stake in shares of Energy Recovery during the second quarter worth $149,000. Finally, AQR Capital Management LLC increased its stake in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Recovery

In other news, CTO Farshad Ghasripoor sold 10,526 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $189,152.22. Following the completion of the transaction, the chief technology officer now owns 126,961 shares of the company’s stock, valued at $2,281,489.17. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the sale, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,406 shares of company stock valued at $1,166,088. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Stock Down 1.4 %

NASDAQ:ERII opened at $14.40 on Friday. The stock’s fifty day simple moving average is $15.28 and its 200-day simple moving average is $16.35. The firm has a market capitalization of $833.67 million, a P/E ratio of 42.35 and a beta of 1.18. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ERII shares. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank began coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 target price on the stock. B. Riley lowered their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Evercore ISI lowered their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Two equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.