41,742 Shares in Energy Recovery, Inc. $ERII Acquired by Old West Investment Management LLC

Key Points

• Old West Investment Management LLC recently acquired 41,742 shares of Energy Recovery, Inc., totaling approximately $663,000, which reflects an interest in the company's potential growth.
• Institutional investors collectively own 83.58% of Energy Recovery's stock, highlighting significant institutional interest and backing in the company.
• Analyst ratings for Energy Recovery include two "Strong Buy," two "Buy," and one "Hold," with a consensus price target of $18.67, indicating optimistic expectations for the stock's performance.

Old West Investment Management LLC bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 41,742 shares of the industrial products company's stock, valued at approximately $663,000. Old West Investment Management LLC owned 0.08% of Energy Recovery at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Energy Recovery by 5,662.3% in the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock worth $138,000 after acquiring an additional 8,550 shares during the last quarter. American Century Companies Inc. bought a new position in Energy Recovery in the 1st quarter worth about $162,000. Nebula Research & Development LLC lifted its position in Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after purchasing an additional 687 shares during the last quarter. Juncture Wealth Strategies LLC bought a new stake in Energy Recovery during the first quarter valued at approximately $178,000. Finally, Two Sigma Investments LP bought a new stake in Energy Recovery during the fourth quarter valued at approximately $229,000. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Stock Performance

ERII stock opened at $14.73 on Monday. The company has a market capitalization of $783.61 million, a PE ratio of 35.07 and a beta of 1.03. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The company's 50 day moving average price is $13.38 and its two-hundred day moving average price is $14.13.

Insider Activity at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 30,000 shares of Energy Recovery stock in a transaction that occurred 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 transaction, the director directly owned 655,220 shares of the company's stock, valued at approximately $8,308,189.60. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the transaction, the senior vice president directly owned 100,765 shares in the company, valued at $1,407,687.05. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,387 shares of company stock worth $710,656 over the last three months. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ERII. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, B. Riley lifted their target price on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $18.67.

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.

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