Mosaic Family Wealth LLC Maintains Stake in Energy Recovery, Inc. (ERII)
Mosaic Family Wealth LLC maintained its position in Energy Recovery, Inc. (NASDAQ:ERII) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,800 shares of the industrial products company’s stock at the end of the second quarter. Mosaic Family Wealth LLC owned approximately 0.11% of Energy Recovery worth $512,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Alambic Investment Management L.P. acquired a new position in Energy Recovery during the first quarter worth approximately $104,000. Tudor Investment Corp ET AL acquired a new position in Energy Recovery during the first quarter worth approximately $113,000. National Planning Corp boosted its position in Energy Recovery by 21.3% in the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock worth $157,000 after buying an additional 3,297 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Energy Recovery during the first quarter worth approximately $166,000. Finally, Alliancebernstein L.P. boosted its position in Energy Recovery by 19.8% in the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock worth $166,000 after buying an additional 3,300 shares in the last quarter. 33.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Energy Recovery, Inc. (NASDAQ:ERII) traded down 0.48% on Monday, reaching $6.24. The company had a trading volume of 25,473 shares. The stock has a market capitalization of $334.31 million, a P/E ratio of 215.17 and a beta of 5.51. Energy Recovery, Inc. has a 1-year low of $6.13 and a 1-year high of $16.67. The company’s 50 day moving average price is $7.38 and its 200-day moving average price is $8.09.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The firm had revenue of $12.20 million for the quarter, compared to the consensus estimate of $14.99 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. Equities analysts predict that Energy Recovery, Inc. will post $0.53 EPS for the current year.
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A number of research analysts have recently commented on the company. Zacks Investment Research cut Energy Recovery from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 target price (down previously from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. Finally, BidaskClub cut Energy Recovery from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Energy Recovery currently has an average rating of “Buy” and a consensus target price of $16.92.
About Energy Recovery
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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