Inspire Investing LLC Boosts Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Inspire Investing LLC boosted its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 18.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 27,110 shares of the industrial products company’s stock after purchasing an additional 4,156 shares during the period. Inspire Investing LLC’s holdings in Energy Recovery were worth $360,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brown Capital Management LLC grew its holdings in Energy Recovery by 64.7% during the fourth quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock worth $82,085,000 after acquiring an additional 1,711,129 shares during the period. Trillium Asset Management LLC acquired a new stake in shares of Energy Recovery during the 1st quarter worth approximately $3,774,000. KBC Group NV increased its holdings in shares of Energy Recovery by 17.2% during the 4th quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock valued at $20,458,000 after purchasing an additional 159,143 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Energy Recovery during the 1st quarter valued at approximately $2,372,000. Finally, Roubaix Capital LLC acquired a new position in shares of Energy Recovery in the 2nd quarter valued at $1,841,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ERII shares. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, July 9th. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Insider Activity at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 2,353 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $34,424.39. Following the completion of the sale, the senior vice president now directly owns 140,328 shares in the company, valued at approximately $2,052,998.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Rodney Clemente sold 2,353 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $34,424.39. Following the transaction, the senior vice president now owns 140,328 shares in the company, valued at $2,052,998.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Yeung sold 2,012 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $29,435.56. Following the sale, the insider now owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,444 shares of company stock valued at $123,536. 4.10% of the stock is owned by corporate insiders.

Energy Recovery Price Performance

Shares of ERII stock opened at $17.05 on Friday. The stock has a 50 day simple moving average of $16.06 and a 200-day simple moving average of $14.71. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $21.78. The company has a market cap of $977.48 million, a price-to-earnings ratio of 50.15 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. The company had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.36 million. Analysts anticipate that Energy Recovery, Inc. will post 0.37 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.