Raiffeisen Bank International AG Increases Stake in Energy Recovery, Inc. $ERII

Raiffeisen Bank International AG lifted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 31.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 460,000 shares of the industrial products company’s stock after buying an additional 110,000 shares during the period. Raiffeisen Bank International AG’s holdings in Energy Recovery were worth $4,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in shares of Energy Recovery in the 3rd quarter valued at about $27,000. Parallel Advisors LLC bought a new position in shares of Energy Recovery during the fourth quarter valued at approximately $38,000. Quantbot Technologies LP purchased a new position in Energy Recovery during the second quarter valued at approximately $33,000. Comerica Bank increased its holdings in Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after buying an additional 2,324 shares during the period. Finally, Group One Trading LLC bought a new position in Energy Recovery in the first quarter worth approximately $41,000. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Stock Down 0.3%

ERII opened at $7.63 on Friday. The company has a market cap of $393.25 million, a P/E ratio of 27.25 and a beta of 0.90. The firm’s 50-day moving average price is $8.35 and its 200-day moving average price is $9.57. Energy Recovery, Inc. has a 52-week low of $7.51 and a 52-week high of $18.32.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%.The company had revenue of $12.00 million for the quarter, compared to analysts’ expectations of $18.36 million. On average, research analysts anticipate that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on ERII shares. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings upgraded Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. B. Riley Financial decreased their price objective on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.50.

Insider Buying and Selling at Energy Recovery

In other news, Director Colin R. Sabol bought 11,180 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $8.88 per share, with a total value of $99,278.40. Following the transaction, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. The trade was a 25.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the transaction, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade represents a 4.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.50% of the company’s stock.

About Energy Recovery

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.