235,000 Shares in Energy Recovery, Inc. (NASDAQ:ERII) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new position in Energy Recovery, Inc. (NASDAQ:ERII) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 235,000 shares of the industrial products company’s stock, valued at approximately $3,459,000. Raiffeisen Bank International AG owned about 0.41% of Energy Recovery at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ERII. Ameriprise Financial Inc. grew its holdings in Energy Recovery by 24.6% during the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock worth $72,823,000 after acquiring an additional 978,490 shares during the period. Raymond James Financial Inc. acquired a new stake in Energy Recovery during the fourth quarter worth about $5,741,000. KLP Kapitalforvaltning AS acquired a new stake in Energy Recovery during the fourth quarter worth about $4,670,000. Duff & Phelps Investment Management Co. acquired a new stake in Energy Recovery during the fourth quarter worth about $3,798,000. Finally, Baillie Gifford & Co. grew its holdings in Energy Recovery by 27.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after acquiring an additional 243,653 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ERII shares. B. Riley downgraded Energy Recovery from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $12.50 in a research report on Thursday, May 8th. StockNews.com downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.88.

Energy Recovery Trading Down 0.2%

NASDAQ:ERII opened at $12.28 on Friday. The firm has a market cap of $672.40 million, a PE ratio of 36.12 and a beta of 1.09. The stock has a fifty day moving average price of $15.06 and a 200 day moving average price of $15.49. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s revenue was down 33.1% compared to the same quarter last year. Equities analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon purchased 4,200 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average price of $12.20 per share, for a total transaction of $51,240.00. Following the acquisition, the chief executive officer now directly owns 36,950 shares in the company, valued at approximately $450,790. The trade was a 12.82% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. This represents a 6.73% decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

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.