Brown Capital Management LLC Sells 876,312 Shares of Energy Recovery, Inc. $ERII

Brown Capital Management LLC lessened its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 35.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,602,982 shares of the industrial products company’s stock after selling 876,312 shares during the quarter. Brown Capital Management LLC’s holdings in Energy Recovery were worth $24,718,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Trust Co. of Toledo NA OH purchased a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $37,000. State of Alaska Department of Revenue purchased a new position in Energy Recovery during the third quarter valued at $46,000. Tower Research Capital LLC TRC boosted 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 worth $77,000 after acquiring an additional 3,803 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Energy Recovery in the second quarter worth $80,000. Finally, Groupe la Francaise bought a new position in shares of Energy Recovery during the second quarter valued at $153,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ERII. Loop Capital set a $18.20 price target on shares of Energy Recovery in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Energy Recovery in a report on Monday, December 29th. Finally, B. Riley reiterated a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.07.

Energy Recovery Stock Performance

ERII opened at $14.95 on Tuesday. The company’s 50-day simple moving average is $14.28 and its two-hundred day simple moving average is $14.70. The stock has a market capitalization of $791.90 million, a P/E ratio of 43.97 and a beta of 1.09. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $18.32.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $32.00 million during the quarter, compared to analysts’ expectations of $29.94 million. Energy Recovery had a net margin of 14.44% and a return on equity of 10.09%. Research analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 15,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $14.97, for a total transaction of $224,550.00. Following the transaction, the director directly owned 640,220 shares of the company’s stock, valued at $9,584,093.40. This represents a 2.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

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.