Baillie Gifford & Co. Lowers Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Baillie Gifford & Co. trimmed its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,099,276 shares of the industrial products company’s stock after selling 20,565 shares during the period. Baillie Gifford & Co.’s holdings in Energy Recovery were worth $17,467,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ERII. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Energy Recovery during the 1st quarter worth approximately $379,000. Y Intercept Hong Kong Ltd purchased a new stake in Energy Recovery in the first quarter valued at approximately $443,000. Teacher Retirement System of Texas acquired a new position in Energy Recovery during the first quarter worth $430,000. Clear Creek Financial Management LLC boosted its position in shares of Energy Recovery by 5.9% during the first quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock worth $242,000 after buying an additional 850 shares during the period. Finally, Juncture Wealth Strategies LLC acquired a new stake in shares of Energy Recovery in the first quarter valued at $178,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ERII has been the topic of several research reports. Wall Street Zen lowered Energy Recovery from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Fearnley Fonds raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. Finally, B. Riley lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Energy Recovery currently has an average rating of “Buy” and a consensus target price of $18.17.

Insiders Place Their Bets

In other news, Director Pamela L. Tondreau acquired 4,200 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $12.28 per share, with a total value of $51,576.00. Following the transaction, the director owned 41,043 shares in the company, valued at approximately $504,008.04. This trade represents a 11.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $380,400.00. Following the completion of the sale, the director owned 655,220 shares in the company, valued at $8,308,189.60. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

Energy Recovery Price Performance

ERII opened at $13.88 on Friday. The business has a fifty day moving average price of $12.81 and a 200 day moving average price of $14.21. Energy Recovery, Inc. has a 12 month low of $10.86 and a 12 month high of $20.27. The stock has a market capitalization of $756.46 million, a price-to-earnings ratio of 37.51 and a beta of 1.01.

Energy Recovery (NASDAQ:ERII) last announced 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 net margin of 15.21% and a return on equity of 9.96%. The company had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $21.97 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The business’s quarterly revenue was down 33.1% compared to the same quarter last year. On average, research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Energy Recovery 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.