Avenir Corp Has $16.95 Million Stock Holdings in Energy Recovery, Inc. $ERII

Key Points

• Avenir Corp reduced its holdings in Energy Recovery, Inc. by 5.7%, now owning approximately 1.8% of the company's stock, valued at about $16.95 million.
• Institutional investors hold significant ownership of Energy Recovery, with 83.58% of the company’s stock being owned by institutional investors and various firms making notable changes to their positions recently.
• Energy Recovery's stock has a consensus "Buy" rating from analysts and a price target of $18.67, highlighting optimistic growth expectations despite a recent decrease in some individual positions.

Avenir Corp decreased its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,654 shares of the industrial products company's stock after selling 64,719 shares during the period. Energy Recovery accounts for about 1.8% of Avenir Corp's portfolio, making the stock its 15th biggest position. Avenir Corp owned 1.95% of Energy Recovery worth $16,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Energy Recovery by 5,662.3% during the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock valued at $138,000 after purchasing an additional 8,550 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Energy Recovery during the 1st quarter valued at about $162,000. Nebula Research & Development LLC boosted its position in shares of Energy Recovery by 6.3% during the 4th 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 in the last quarter. Juncture Wealth Strategies LLC bought a new stake in shares of Energy Recovery during the 1st quarter valued at about $178,000. Finally, Two Sigma Investments LP bought a new stake in shares of Energy Recovery during the 4th quarter valued at about $229,000. Institutional investors own 83.58% of the company's stock.

Insider Buying and Selling

In other news, SVP Rodney Clemente sold 5,387 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $13.97, for a total value of $75,256.39. Following the transaction, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total value of $380,400.00. Following the completion of the transaction, the director owned 655,220 shares in the company, valued at $8,308,189.60. This represents a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,387 shares of company stock worth $710,656 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII opened at $14.52 on Wednesday. The business's 50 day simple moving average is $13.47 and its two-hundred day simple moving average is $14.14. The firm has a market cap of $772.46 million, a P/E ratio of 34.57 and a beta of 1.03. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27.

Wall Street Analysts Forecast Growth

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

About Energy Recovery

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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