Energy Recovery, Inc. $ERII Stock Holdings Lifted by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC increased its Energy Recovery stake by 124.7% in the first quarter, ending with 364,337 shares valued at about $3.67 million.
• Energy Recovery reported Q1 earnings that missed EPS estimates with a loss of $0.23 per share, though revenue of $9.71 million came in above forecasts.
• Insider buying was notable, with directors Colin R. Sabol and Pamela L. Tondreau purchasing shares in recent months, while analysts currently rate the stock a Hold on average with a $15.00 target price.

SG Americas Securities LLC lifted its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 124.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 364,337 shares of the industrial products company's stock after acquiring an additional 202,221 shares during the quarter. SG Americas Securities LLC owned approximately 0.69% of Energy Recovery worth $3,669,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ERII. Royal Bank of Canada boosted its position in shares of Energy Recovery by 43.1% in the first quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company's stock worth $258,000 after buying an additional 4,899 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Energy Recovery during the first quarter valued at $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Recovery by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company's stock worth $714,000 after acquiring an additional 3,185 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Energy Recovery by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company's stock worth $3,274,000 after acquiring an additional 19,992 shares during the period. Finally, Jane Street Group LLC grew its stake in Energy Recovery by 54.4% during the 1st quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company's stock valued at $1,944,000 after acquiring an additional 43,089 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $8.81 on Tuesday. The firm has a market cap of $454.07 million, a price-to-earnings ratio of 23.18 and a beta of 0.94. The stock has a 50-day simple moving average of $9.17 and a 200-day simple moving average of $11.64. Energy Recovery, Inc. has a 52-week low of $7.83 and a 52-week high of $18.32.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.13). The firm had revenue of $9.71 million during the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%. As a group, equities research analysts predict that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ERII shares. Weiss Ratings lowered shares of Energy Recovery from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday. Loop Capital set a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 2nd. Freedom Capital downgraded shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Energy Recovery from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Seaport Research Partners reaffirmed a "buy" rating and issued a $12.00 price target on shares of Energy Recovery in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.00.

Insider Activity

In other Energy Recovery news, Director Colin R. Sabol purchased 11,180 shares of the business's stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $8.88 per share, for a total transaction of $99,278.40. Following the acquisition, the director owned 55,671 shares of the company's stock, valued at $494,358.48. This trade represents a 25.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela L. Tondreau acquired 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the acquisition, the director directly owned 37,362 shares of the company's stock, valued at $311,599.08. This represents a 115.19% increase in their position. The SEC filing for this purchase provides additional information. 3.20% of the stock is owned by insiders.

About Energy Recovery

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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