Baillie Gifford & Co. Has $17.47 Million Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Key Points

• Baillie Gifford & Co. has reduced its stake in Energy Recovery, Inc. (NASDAQ: ERII) by 1.8%, now holding approximately 2.01% of the company, valued at $17.47 million.
• The company reported a quarterly loss of ($0.13) EPS for the recent quarter, significantly missing the consensus estimate of $0.03 by ($0.16), with revenues down 33.1% year-over-year.
• Recent analyst reports show a mixture of ratings for Energy Recovery, with a current consensus rating of "Buy" and an average target price of $18.17.

Baillie Gifford & Co. reduced its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 1.8% during the 1st 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. owned approximately 2.01% of Energy Recovery worth $17,467,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ERII. Ameriprise Financial Inc. raised its holdings in Energy Recovery by 24.6% during the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock worth $72,823,000 after buying an additional 978,490 shares during the period. Raymond James Financial Inc. acquired a new stake in Energy Recovery during the 4th quarter worth approximately $5,741,000. Duff & Phelps Investment Management Co. acquired a new stake in Energy Recovery during the 4th quarter worth approximately $3,798,000. Raiffeisen Bank International AG acquired a new stake in Energy Recovery during the 4th quarter worth approximately $3,459,000. Finally, Renaissance Technologies LLC bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $2,799,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ERII. Wall Street Zen cut shares of 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 cut shares of Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $20.00 to $12.50 in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $18.17.

Energy Recovery Stock Up 1.4%

Shares of Energy Recovery stock traded up $0.19 during trading on Wednesday, reaching $13.86. The company's stock had a trading volume of 142,525 shares, compared to its average volume of 418,468. The firm has a market cap of $755.59 million, a PE ratio of 37.46 and a beta of 1.01. The business's 50-day moving average price is $12.84 and its 200-day moving average price is $14.19. 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 issued its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 9.96% and a net margin of 15.21%. The firm's revenue was down 33.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. Equities analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was 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 of the company's stock, valued at $8,308,189.60. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Pamela L. Tondreau acquired 4,200 shares of the stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $12.28 per share, with a total value of $51,576.00. Following the purchase, the director directly owned 41,043 shares of the company's stock, valued at $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 55,387 shares of company stock worth $710,656. 3.20% of the stock is owned by corporate insiders.

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.