Isthmus Partners LLC Makes New Investment in Energy Recovery, Inc. $ERII

Isthmus Partners LLC acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 111,054 shares of the industrial products company’s stock, valued at approximately $1,498,000. Isthmus Partners LLC owned about 0.21% of Energy Recovery at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada grew its stake in Energy Recovery by 43.1% during the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock worth $258,000 after buying an additional 4,899 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Energy Recovery in the first quarter valued at about $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Energy Recovery by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock worth $714,000 after acquiring an additional 3,185 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Energy Recovery by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company’s stock worth $3,274,000 after acquiring an additional 19,992 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Energy Recovery by 54.4% during the first quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 43,089 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

ERII has been the topic of several recent analyst reports. Northcoast Research downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Loop Capital set a $13.00 target price on shares of Energy Recovery in a research report on Monday, March 2nd. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings cut shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Seaport Research Partners reissued a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Energy Recovery presently has a consensus rating of “Hold” and an average target price of $15.00.

Energy Recovery Stock Down 2.4%

Shares of NASDAQ:ERII opened at $8.41 on Friday. Energy Recovery, Inc. has a 52-week low of $8.14 and a 52-week high of $18.32. The stock has a market cap of $433.45 million, a price-to-earnings ratio of 22.13 and a beta of 1.04. The business has a 50-day moving average price of $10.30 and a 200-day moving average price of $13.06.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The business had revenue of $9.71 million during the quarter, compared to analyst estimates of $8.37 million. As a group, equities analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In related news, Director Arve Hanstveit sold 165,292 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $10.14, for a total transaction of $1,676,060.88. Following the completion of the transaction, the director directly owned 384,928 shares in the company, valued at $3,903,169.92. The trade was a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 20,568 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $10.61, for a total transaction of $218,226.48. Following the completion of the sale, the senior vice president directly owned 116,008 shares in the company, valued at approximately $1,230,844.88. The trade was a 15.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 238,551 shares of company stock valued at $2,456,512 in the last ninety days. Insiders own 3.20% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.