Creative Planning Makes New Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Creative Planning purchased a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,334 shares of the industrial products company’s stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $26,000. Sentry Investment Management LLC raised its holdings in shares of Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,438 shares in the last quarter. AXA S.A. bought a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $149,000. ProShare Advisors LLC bought a new stake in shares of Energy Recovery in the 1st quarter worth approximately $158,000. Finally, AQR Capital Management LLC raised its holdings in shares of Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Trading Up 0.4 %

Shares of Energy Recovery stock opened at $18.01 on Friday. The firm has a fifty day simple moving average of $17.00 and a 200-day simple moving average of $15.04. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $19.94. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 52.97 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. The firm had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. As a group, research analysts predict that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO David W. Moon bought 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now owns 32,750 shares in the company, valued at $524,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David W. Moon acquired 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now directly owns 32,750 shares in the company, valued at $524,000. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider William Yeung sold 2,012 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the sale, the insider now directly owns 85,291 shares in the company, valued at approximately $1,247,807.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,444 shares of company stock worth $123,536. 4.10% of the stock is currently owned by corporate insiders.

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.