Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in Energy Recovery, Inc. (NASDAQ:ERII) by 49.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,261 shares of the industrial products company’s stock after selling 38,542 shares during the period. BNP Paribas Financial Markets owned about 0.07% of Energy Recovery worth $683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ERII. The Manufacturers Life Insurance Company lifted its stake in shares of Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock valued at $294,000 after buying an additional 1,330 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Energy Recovery by 8.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,433 shares during the period. Rhumbline Advisers boosted its holdings in shares of Energy Recovery by 2.0% during the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 1,893 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the second quarter valued at $26,000. Finally, AQR Capital Management LLC grew its position in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,986 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Stock Performance

NASDAQ ERII opened at $16.42 on Friday. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27. The company’s 50 day moving average price is $17.52 and its 200 day moving average price is $15.93. The firm has a market capitalization of $950.62 million, a price-to-earnings ratio of 48.29 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same quarter last year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Energy Recovery, Inc. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the sale, the senior vice president now directly owns 106,367 shares of the company’s stock, valued at approximately $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock worth $828,688 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ERII. Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Scotiabank began coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. B. Riley dropped their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.75.

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.