Energy Recovery, Inc. $ERII Holdings Decreased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS cut its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 11.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 363,411 shares of the industrial products company’s stock after selling 48,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Energy Recovery were worth $5,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in ERII. Trust Co. of Toledo NA OH bought a new position in shares of Energy Recovery in the 2nd quarter worth about $37,000. Tower Research Capital LLC TRC raised its stake in Energy Recovery by 172.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 3,803 shares during the period. FNY Investment Advisers LLC bought a new position in Energy Recovery in the second quarter worth about $80,000. Groupe la Francaise acquired a new position in Energy Recovery in the second quarter valued at approximately $153,000. Finally, PDT Partners LLC bought a new position in shares of Energy Recovery during the second quarter valued at approximately $159,000. Institutional investors own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. B. Riley reissued a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. CJS Securities assumed coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Recovery in a research report on Monday, December 29th. Finally, Loop Capital set a $18.20 target price on shares of Energy Recovery in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.07.

Energy Recovery Price Performance

Energy Recovery stock opened at $14.16 on Friday. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $18.32. The stock has a market capitalization of $750.06 million, a PE ratio of 41.65 and a beta of 1.08. The firm has a 50 day simple moving average of $14.35 and a 200-day simple moving average of $14.51.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $32.00 million during the quarter, compared to the consensus estimate of $29.94 million. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $14.97, for a total value of $224,550.00. Following the sale, the director directly owned 640,220 shares in the company, valued at approximately $9,584,093.40. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Yeung sold 9,168 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $18.00, for a total transaction of $165,024.00. Following the transaction, the insider owned 97,369 shares of the company’s stock, valued at approximately $1,752,642. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 34,758 shares of company stock worth $569,604. 3.20% of the stock is owned by corporate insiders.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.