Sargent Investment Group LLC Reduces Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Sargent Investment Group LLC cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 7.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 313,779 shares of the industrial products company’s stock after selling 25,316 shares during the quarter. Sargent Investment Group LLC owned 0.55% of Energy Recovery worth $4,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Hantz Financial Services Inc. acquired a new position in Energy Recovery in the second quarter valued at approximately $26,000. Sentry Investment Management LLC lifted its stake 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 valued at $120,000 after purchasing an additional 1,438 shares during the period. ProShare Advisors LLC purchased a new stake in Energy Recovery during the first quarter worth $158,000. Lazard Asset Management LLC boosted its holdings in Energy Recovery by 39.6% during the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after buying an additional 3,076 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Energy Recovery during the second quarter valued at $214,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Stock Performance

NASDAQ:ERII opened at $16.01 on Tuesday. The company has a fifty day moving average of $15.82 and a two-hundred day moving average of $14.67. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $23.10. The stock has a market capitalization of $917.85 million, a PE ratio of 47.09 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, beating 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 firm had revenue of $27.20 million for the quarter, compared to analyst estimates of $23.36 million. Research analysts forecast that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Energy Recovery

In other news, CEO David W. Moon acquired 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the acquisition, the chief executive officer now owns 32,750 shares of the company’s stock, valued at approximately $524,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction of $29,435.56. Following the transaction, the insider now directly owns 85,291 shares in the company, valued at approximately $1,247,807.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David W. Moon purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $524,000. The disclosure for this purchase can be found here. Insiders have sold 8,444 shares of company stock valued at $123,536 over the last ninety days. Insiders own 4.10% of the company’s stock.

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.