Isthmus Partners LLC Purchases New Position in Energy Recovery, Inc. $ERII

Isthmus Partners LLC purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 111,054 shares of the industrial products company’s stock, valued at approximately $1,498,000.

Other hedge funds have also bought and sold shares of the company. Wexford Capital LP purchased a new position in shares of Energy Recovery during the 3rd quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its holdings in Energy Recovery by 2,581.9% during the third quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,859 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Energy Recovery during the third quarter valued at $46,000. Comerica Bank grew its position in Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after buying an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Energy Recovery by 172.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock valued at $77,000 after buying an additional 3,803 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insider Buying and Selling

In other news, Director Pamela L. Tondreau bought 20,000 shares of Energy Recovery stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the acquisition, the director directly owned 37,362 shares of the company’s stock, valued at $311,599.08. The trade was a 115.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arve Hanstveit sold 165,292 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $10.14, for a total value of $1,676,060.88. Following the completion of the transaction, the director owned 384,928 shares in the company, valued at approximately $3,903,169.92. This trade represents a 30.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 238,551 shares of company stock worth $2,456,512. Insiders own 3.20% of the company’s stock.

Energy Recovery Stock Down 2.4%

ERII opened at $8.41 on Friday. The company has a market cap of $433.45 million, a price-to-earnings ratio of 22.13 and a beta of 1.04. Energy Recovery, Inc. has a 52-week low of $8.14 and a 52-week high of $18.32. The firm’s fifty day simple moving average is $10.30 and its two-hundred day simple moving average is $13.06.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The company had revenue of $9.71 million for the quarter, compared to analysts’ expectations of $8.37 million. On average, research analysts forecast that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ERII. Freedom Capital downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday. Seaport Research Partners reaffirmed a “buy” rating and issued a $12.00 price target on shares of Energy Recovery in a report on Wednesday. Weiss Ratings downgraded Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Loop Capital set a $13.00 price objective on Energy Recovery in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

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.