Energy Recovery, Inc. (NASDAQ:ERII) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 124.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,759 shares of the industrial products company's stock after purchasing an additional 24,853 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.08% of Energy Recovery worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Energy Recovery during the fourth quarter worth about $5,741,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Energy Recovery in the 4th quarter valued at about $4,670,000. Duff & Phelps Investment Management Co. acquired a new stake in shares of Energy Recovery in the 4th quarter valued at about $3,798,000. Baillie Gifford & Co. boosted its position in shares of Energy Recovery by 27.8% in the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock valued at $16,462,000 after purchasing an additional 243,653 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Energy Recovery during the 4th quarter worth approximately $2,799,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

Energy Recovery Price Performance

Shares of ERII stock traded up $0.05 during midday trading on Wednesday, hitting $12.31. The company had a trading volume of 674,429 shares, compared to its average volume of 415,362. The stock has a market cap of $674.05 million, a price-to-earnings ratio of 36.21 and a beta of 1.09. The company's 50 day simple moving average is $15.22 and its 200 day simple moving average is $15.55. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The firm had revenue of $8.07 million during the quarter, compared to analysts' expectations of $21.97 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business's quarterly revenue was down 33.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. Analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com cut Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. B. Riley downgraded shares of Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price target for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.88.

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.