Raiffeisen Bank International AG Acquires 110,000 Shares of Energy Recovery, Inc. $ERII

Raiffeisen Bank International AG grew its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 31.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 460,000 shares of the industrial products company’s stock after buying an additional 110,000 shares during the quarter. Raiffeisen Bank International AG owned 0.89% of Energy Recovery worth $4,053,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Energy Recovery by 2.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 169,005 shares of the industrial products company’s stock worth $1,524,000 after acquiring an additional 3,297 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of Energy Recovery in the 2nd quarter valued at approximately $300,000. Bank of America Corp DE bought a new stake in shares of Energy Recovery in the 2nd quarter valued at approximately $1,049,000. Jupiter Topco LLC purchased a new position in shares of Energy Recovery in the 2nd quarter worth approximately $218,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Energy Recovery in the 2nd quarter worth approximately $702,000. Institutional investors own 83.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ERII. B. Riley Financial decreased their price target on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Wall Street Zen cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Freedom Capital downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Seaport Research Partners restated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. One research 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.com, the company presently has a consensus rating of “Hold” and an average target price of $13.50.

Insider Transactions at Energy Recovery

In related news, Director Colin R. Sabol acquired 11,180 shares of the 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 transaction, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. This represents a 25.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 5,387 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total transaction of $46,112.72. Following the completion of the transaction, the senior vice president owned 108,301 shares in the company, valued at $927,056.56. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.50% of the company’s stock.

Energy Recovery Stock Performance

Shares of ERII stock opened at $7.63 on Friday. The stock has a 50 day moving average price of $8.35 and a 200 day moving average price of $9.57. Energy Recovery, Inc. has a 52-week low of $7.51 and a 52-week high of $18.32. The firm has a market capitalization of $393.25 million, a P/E ratio of 27.25 and a beta of 0.90.

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). Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. The business had revenue of $12.00 million during the quarter, compared to the consensus estimate of $18.36 million. As a group, sell-side analysts forecast that Energy Recovery, Inc. will post -0.17 EPS for the current year.

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.