Old West Investment Management LLC Makes New Investment in Energy Recovery, Inc. $ERII

Old West Investment Management LLC purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 76,930 shares of the industrial products company’s stock, valued at approximately $694,000. Old West Investment Management LLC owned about 0.15% of Energy Recovery at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ERII. Ameriprise Financial Inc. boosted its holdings in Energy Recovery by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock valued at $69,025,000 after acquiring an additional 262,151 shares during the last quarter. Vanguard Group Inc. increased its position in Energy Recovery by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after purchasing an additional 89,696 shares during the period. Amundi raised its holdings in Energy Recovery by 31.2% during the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock worth $37,648,000 after purchasing an additional 888,618 shares during the last quarter. State Street Corp raised its holdings in Energy Recovery by 22.6% during the 4th quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock worth $23,803,000 after purchasing an additional 325,280 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Energy Recovery by 2.8% in the 4th quarter. Legal & General Group Plc now owns 1,343,847 shares of the industrial products company’s stock worth $18,128,000 after purchasing an additional 36,109 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Stock Performance

Shares of ERII opened at $8.35 on Monday. Energy Recovery, Inc. has a 52-week low of $7.51 and a 52-week high of $18.32. The business’s 50 day moving average price is $8.60 and its two-hundred day moving average price is $10.31. The firm has a market cap of $430.40 million, a PE ratio of 29.82 and a beta of 0.91.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $12.00 million for the quarter, compared to analyst estimates of $18.36 million. Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%. Research analysts predict that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

ERII has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. B. Riley Financial lowered their target price on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Seaport Research Partners reaffirmed a “buy” rating and set a $12.00 price target on shares of Energy Recovery in a research report on Wednesday, May 13th. Finally, Freedom Capital cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.50.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the sale, the senior vice president directly owned 108,301 shares of the company’s stock, valued at approximately $927,056.56. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Colin R. Sabol purchased 11,180 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $8.88 per share, with a total value of $99,278.40. Following the completion of the purchase, the director owned 55,671 shares of the company’s stock, valued at approximately $494,358.48. This represents a 25.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.50% of the stock is owned by corporate insiders.

About Energy Recovery

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.