Energy Recovery, Inc. (NASDAQ:ERII) Shares Purchased by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 45.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 497,169 shares of the industrial products company's stock after acquiring an additional 156,184 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.86% of Energy Recovery worth $7,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Avanza Fonder AB acquired a new stake in shares of Energy Recovery in the fourth quarter valued at approximately $107,000. Schroder Investment Management Group purchased a new stake in Energy Recovery in the 4th quarter valued at approximately $160,000. Nebula Research & Development LLC grew its holdings in 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 buying an additional 687 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in Energy Recovery during the fourth quarter worth $211,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Energy Recovery in the fourth quarter worth $234,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 21,444 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares of the company's stock, valued at approximately $1,713,300.78. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Moon bought 4,200 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average price of $12.20 per share, with a total value of $51,240.00. Following the completion of the acquisition, the chief executive officer now owns 36,950 shares of the company's stock, valued at $450,790. This trade represents a 12.82% increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. StockNews.com lowered shares of Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.88.

Energy Recovery Stock Up 7.2%

Shares of Energy Recovery stock opened at $13.16 on Monday. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $20.27. The business's fifty day moving average is $14.99 and its two-hundred day moving average is $15.43. The firm has a market cap of $717.21 million, a PE ratio of 38.71 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released 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). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business 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 company posted ($0.08) earnings per share. The business's revenue for the quarter was down 33.1% compared to the same quarter last year. Equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.

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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