Energy Recovery, Inc. (NASDAQ:ERII) Short Interest Up 8.5% in September

Energy Recovery, Inc. (NASDAQ:ERII) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,300,000 shares, a growth of 8.5% from the September 15th total of 2,120,000 shares. Based on an average trading volume of 383,600 shares, the short-interest ratio is currently 6.0 days. Approximately 4.1% of the company’s shares are short sold.

Energy Recovery Stock Up 0.4 %

Shares of Energy Recovery stock traded up $0.08 during trading hours on Thursday, hitting $18.01. The company’s stock had a trading volume of 370,103 shares, compared to its average volume of 412,750. The business has a fifty day moving average of $16.97 and a 200 day moving average of $15.02. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $19.94. The company has a market capitalization of $1.03 billion, a PE ratio of 52.97 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The firm had revenue of $27.20 million during the quarter, compared to the consensus estimate of $23.36 million. On average, sell-side analysts anticipate that Energy Recovery will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Energy Recovery news, CEO David W. Moon bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now owns 32,750 shares of the company’s stock, valued at $524,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Energy Recovery news, SVP Rodney Clemente sold 2,353 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $34,424.39. Following the transaction, the senior vice president now owns 140,328 shares of the company’s stock, valued at $2,052,998.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Moon purchased 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at $524,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 8,444 shares of company stock valued at $123,536. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in Energy Recovery by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 1,330 shares in the last quarter. Sentry Investment Management LLC boosted its position in 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 buying an additional 1,438 shares during the last quarter. Rhumbline Advisers grew its stake 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 valued at $1,270,000 after acquiring an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery during the second quarter worth about $26,000. Finally, AQR Capital Management LLC increased its position in shares of Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 1,986 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

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.