Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC cut its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 44.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,395 shares of the industrial products company's stock after selling 87,697 shares during the period. Sargent Investment Group LLC owned approximately 0.20% of Energy Recovery worth $1,722,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ERII. Schroder Investment Management Group bought a new stake in shares of Energy Recovery during the 4th quarter worth about $160,000. Nebula Research & Development LLC lifted its stake in shares of Energy Recovery by 6.3% in 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 during the last quarter. Juncture Wealth Strategies LLC acquired a new position in Energy Recovery during the 1st quarter valued at $178,000. Polymer Capital Management US LLC acquired a new position in shares of Energy Recovery in the 4th quarter valued at $211,000. Finally, Two Sigma Investments LP acquired a new position in shares of Energy Recovery in the 4th quarter valued at $229,000. Institutional investors and hedge funds own 83.58% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, B. Riley downgraded 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 research 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $18.17.

Insider Activity at Energy Recovery

In other news, CEO David W. Moon bought 4,200 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of $12.20 per share, for a total transaction of $51,240.00. Following the completion of the transaction, the chief executive officer owned 36,950 shares of the company's stock, valued at approximately $450,790. This trade represents a 12.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arve Hanstveit sold 30,000 shares of the business'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 transaction, the director owned 655,220 shares in the company, valued at $8,308,189.60. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

Energy Recovery Stock Performance

NASDAQ:ERII traded up $0.11 during trading hours on Wednesday, reaching $13.78. The stock had a trading volume of 151,094 shares, compared to its average volume of 419,792. The company has a 50 day moving average price of $12.71 and a two-hundred day moving average price of $14.23. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The stock has a market capitalization of $751.17 million, a PE ratio of 37.28 and a beta of 1.01.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The company's quarterly revenue was down 33.1% on a year-over-year basis. Equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Energy Recovery Company 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.