Bank of New York Mellon Corp Acquires Shares of 155,092 Energy Recovery, Inc. $ERII

Bank of New York Mellon Corp bought a new position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 155,092 shares of the industrial products company's stock, valued at approximately $1,399,000. Bank of New York Mellon Corp owned approximately 0.30% of Energy Recovery as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. GSA Capital Partners LLP raised its position in Energy Recovery by 167.4% during the fourth quarter. GSA Capital Partners LLP now owns 109,307 shares of the industrial products company's stock valued at $1,475,000 after acquiring an additional 68,431 shares in the last quarter. Kopion Asset Management LLC grew its position in Energy Recovery by 26.2% in the second quarter. Kopion Asset Management LLC now owns 639,545 shares of the industrial products company's stock worth $5,769,000 after acquiring an additional 132,580 shares in the last quarter. Amundi increased its stake in shares of Energy Recovery by 31.2% during the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company's stock worth $37,648,000 after purchasing an additional 888,618 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Energy Recovery by 47.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company's stock valued at $5,177,000 after purchasing an additional 165,915 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Energy Recovery by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company's stock valued at $51,969,000 after purchasing an additional 89,696 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Energy Recovery from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, September 2nd. B. Riley Financial cut their target price on Energy Recovery from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Seaport Research Partners reaffirmed a "buy" rating and issued a $12.00 price target on shares of Energy Recovery in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Energy Recovery from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $13.50.

Energy Recovery Price Performance

ERII stock opened at $7.38 on Thursday. The stock has a market capitalization of $380.40 million, a price-to-earnings ratio of 26.36 and a beta of 0.90. The company has a 50-day moving average of $8.27 and a two-hundred day moving average of $9.36. Energy Recovery, Inc. has a 52-week low of $7.33 and a 52-week high of $18.32.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%.The business had revenue of $12.00 million during the quarter, compared to the consensus estimate of $18.36 million. Equities analysts expect that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Colin Sabol bought 11,180 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $8.88 per share, with a total value of $99,278.40. Following the completion of the transaction, the director owned 55,671 shares of the company's stock, valued at $494,358.48. The trade was a 25.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rodney Clemente sold 5,387 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the transaction, the senior vice president owned 108,301 shares of the company's stock, valued at approximately $927,056.56. The trade was a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.50% of the company's stock.

Energy Recovery 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.

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