Silvercrest Asset Management Group LLC Increases Position in Energy Recovery, Inc. (NASDAQ:ERII)

Silvercrest Asset Management Group LLC boosted its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 45.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 497,169 shares of the industrial products company's stock after purchasing an additional 156,184 shares during the period. Silvercrest Asset Management Group LLC owned about 0.86% of Energy Recovery worth $7,308,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nebula Research & Development LLC increased 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 worth $170,000 after buying an additional 687 shares in the last quarter. Manchester Capital Management LLC increased its position in Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock worth $429,000 after buying an additional 830 shares in the last quarter. DnB Asset Management AS increased its position in Energy Recovery by 2.9% during the fourth quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock worth $550,000 after buying an additional 1,050 shares in the last quarter. Van ECK Associates Corp increased its position in Energy Recovery by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock worth $1,440,000 after buying an additional 1,808 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Energy Recovery by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 34,130 shares of the industrial products company's stock worth $502,000 after buying an additional 1,924 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $18.88.

Insider Activity at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Moon acquired 4,200 shares of Energy Recovery stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $12.20 per share, for a total transaction of $51,240.00. Following the purchase, the chief executive officer now owns 36,950 shares of the company's stock, valued at $450,790. This represents a 12.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.

Energy Recovery Stock Up 0.9%

Shares of ERII stock traded up $0.11 during mid-day trading on Friday, hitting $12.56. 423,207 shares of the company's stock were exchanged, compared to its average volume of 423,976. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $20.27. The stock has a 50-day simple moving average of $14.65 and a two-hundred day simple moving average of $15.23. The stock has a market cap of $684.51 million, a price-to-earnings ratio of 36.94 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. During the same quarter in the previous year, the business posted ($0.08) EPS. Energy Recovery's revenue was down 33.1% compared to the same quarter last year. As a group, analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

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.