SG Americas Securities LLC Sells 56,332 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

SG Americas Securities LLC reduced its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 53.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,969 shares of the industrial products company's stock after selling 56,332 shares during the period. SG Americas Securities LLC owned 0.09% of Energy Recovery worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Energy Recovery by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock worth $1,440,000 after purchasing an additional 1,808 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock worth $6,989,000 after purchasing an additional 6,834 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Energy Recovery in the 4th quarter worth approximately $5,741,000. Candriam S.C.A. raised its holdings in shares of Energy Recovery by 7.1% in the 4th quarter. Candriam S.C.A. now owns 162,976 shares of the industrial products company's stock worth $2,396,000 after purchasing an additional 10,744 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Energy Recovery in the 4th quarter worth approximately $388,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Stock Down 1.3%

ERII stock traded down $0.16 during trading hours on Friday, hitting $12.02. The company's stock had a trading volume of 917,792 shares, compared to its average volume of 427,283. The company has a market capitalization of $655.09 million, a PE ratio of 32.49 and a beta of 1.02. Energy Recovery, Inc. has a 12 month low of $10.86 and a 12 month high of $20.27. The stock has a 50 day moving average price of $13.41 and a two-hundred day moving average price of $14.63.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted 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). The business had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. Energy Recovery had a return on equity of 9.96% and a net margin of 15.21%. The business's revenue was down 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. Sell-side analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In related news, Director Pamela L. Tondreau purchased 4,200 shares of Energy Recovery stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $12.28 per share, with a total value of $51,576.00. Following the acquisition, the director now directly owns 41,043 shares in the company, valued at approximately $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.75, for a total transaction of $255,000.00. Following the completion of the sale, the director now directly owns 685,220 shares of the company's stock, valued at approximately $8,736,555. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

ERII has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Finally, B. Riley downgraded shares of Energy Recovery from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $20.00 to $12.50 in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $18.88.

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.