GSA Capital Partners LLP Boosts Position in Energy Recovery, Inc. $ERII

GSA Capital Partners LLP increased its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 167.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,307 shares of the industrial products company’s stock after purchasing an additional 68,431 shares during the quarter. GSA Capital Partners LLP owned approximately 0.21% of Energy Recovery worth $1,475,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new stake in Energy Recovery during the third quarter worth approximately $27,000. Hantz Financial Services Inc. lifted its stake in Energy Recovery by 2,581.9% in the third quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,859 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Energy Recovery in the third quarter valued at approximately $46,000. Comerica Bank lifted its stake in Energy Recovery by 150.5% in 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 last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Energy Recovery by 172.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock valued at $77,000 after buying an additional 3,803 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Trading Up 2.2%

NASDAQ:ERII opened at $8.65 on Thursday. The firm has a market cap of $445.82 million, a P/E ratio of 22.76 and a beta of 1.04. The stock’s 50 day simple moving average is $10.17 and its 200-day simple moving average is $12.85. Energy Recovery, Inc. has a 12-month low of $8.14 and a 12-month high of $18.32.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). The company had revenue of $9.71 million during the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. Research analysts forecast that Energy Recovery, Inc. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Energy Recovery news, Director Pamela L. Tondreau purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $8.34 per share, for a total transaction of $166,800.00. Following the completion of the purchase, the director directly owned 37,362 shares in the company, valued at $311,599.08. This represents a 115.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rodney Clemente sold 20,568 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $10.61, for a total value of $218,226.48. Following the completion of the transaction, the senior vice president owned 116,008 shares of the company’s stock, valued at $1,230,844.88. The trade was a 15.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 238,551 shares of company stock worth $2,456,512. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ERII. Wall Street Zen cut Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Northcoast Research cut Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Seaport Research Partners reiterated a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a research note on Wednesday, May 13th. Finally, Weiss Ratings cut Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Energy Recovery currently has a consensus rating of “Hold” and a consensus target price of $15.00.

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.