Keene & Associates Inc. Buys 4,665 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Keene & Associates Inc. increased its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 15.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,615 shares of the industrial products company’s stock after buying an additional 4,665 shares during the quarter. Keene & Associates Inc. owned 0.06% of Energy Recovery worth $460,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Energy Recovery by 1.3% during the 4th quarter. Victory Capital Management Inc. now owns 81,902 shares of the industrial products company’s stock valued at $1,543,000 after purchasing an additional 1,083 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Energy Recovery by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,205 shares of the industrial products company’s stock valued at $8,275,000 after acquiring an additional 5,550 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Energy Recovery by 6.5% in the fourth quarter. BNP Paribas Financial Markets now owns 77,224 shares of the industrial products company’s stock valued at $1,455,000 after acquiring an additional 4,729 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Energy Recovery in the 4th quarter worth approximately $858,000. Finally, Principal Financial Group Inc. grew its position in Energy Recovery by 26.4% during the 4th quarter. Principal Financial Group Inc. now owns 19,632 shares of the industrial products company’s stock worth $370,000 after acquiring an additional 4,099 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James upgraded 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.

Insiders Place Their Bets

In other news, insider William Yeung sold 2,012 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $29,435.56. Following the transaction, the insider now owns 85,291 shares of the company’s stock, valued at approximately $1,247,807.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider William Yeung sold 2,012 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 value of $29,435.56. Following the transaction, the insider now directly owns 85,291 shares in the company, valued at $1,247,807.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Moon bought 3,000 shares of the stock in a transaction on Monday, August 5th. The shares were acquired 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 directly owns 32,750 shares in the company, valued at approximately $524,000. 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. 4.10% of the stock is currently owned by insiders.

Energy Recovery Price Performance

ERII stock opened at $16.03 on Monday. The company has a 50 day moving average price of $15.76 and a 200 day moving average price of $14.66. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $24.35. The stock has a market capitalization of $925.25 million, a PE ratio of 47.15 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The company had revenue of $27.20 million during the quarter, compared to the consensus estimate of $23.36 million. As a group, equities analysts expect that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

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.