Energy Recovery, Inc. (NASDAQ:ERII) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 5,228,000 shares, a decrease of 6.7% from the June 30th total of 5,602,300 shares. Based on an average trading volume of 205,300 shares, the days-to-cover ratio is presently 25.5 days. Currently, 16.6% of the company’s shares are sold short.

NASDAQ:ERII traded down $0.12 during mid-day trading on Thursday, hitting $8.74. The company had a trading volume of 392,931 shares, compared to its average volume of 210,013. The stock has a market capitalization of $485.94 million, a price-to-earnings ratio of 43.70 and a beta of 4.32. The company has a current ratio of 5.09, a quick ratio of 4.76 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $10.67. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $12.04.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $22.80 million for the quarter, compared to analyst estimates of $20.53 million. Energy Recovery had a return on equity of 10.89% and a net margin of 20.21%. Energy Recovery’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. As a group, research analysts anticipate that Energy Recovery will post 0.13 earnings per share for the current year.

In other Energy Recovery news, VP Rodney Clemente sold 36,946 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.92, for a total value of $440,396.32. Following the transaction, the vice president now owns 81,299 shares of the company’s stock, valued at $969,084.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hans Peter Michelet sold 99,014 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $10.73, for a total value of $1,062,420.22. Following the completion of the transaction, the director now directly owns 18,365 shares in the company, valued at approximately $197,056.45. The disclosure for this sale can be found here. Insiders have sold 279,761 shares of company stock worth $2,982,249 in the last ninety days. 23.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ETF Managers Group LLC raised its position in shares of Energy Recovery by 9.8% during the first quarter. ETF Managers Group LLC now owns 17,413 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 1,548 shares during the period. Northern Trust Corp raised its position in shares of Energy Recovery by 0.7% during the fourth quarter. Northern Trust Corp now owns 456,306 shares of the industrial products company’s stock worth $3,070,000 after purchasing an additional 3,041 shares during the period. Legal & General Group Plc raised its position in shares of Energy Recovery by 44.4% during the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 2,294 shares during the period. Geode Capital Management LLC raised its position in shares of Energy Recovery by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 386,026 shares of the industrial products company’s stock worth $2,597,000 after purchasing an additional 21,560 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Energy Recovery by 36.8% during the fourth quarter. Bank of New York Mellon Corp now owns 185,978 shares of the industrial products company’s stock worth $1,251,000 after purchasing an additional 50,009 shares during the period. 32.32% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the company. BidaskClub lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Wednesday. Evercore ISI reissued a “buy” rating and issued a $18.00 target price on shares of Energy Recovery in a research note on Thursday, August 8th. TheStreet raised Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. ValuEngine lowered Energy Recovery from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, B. Riley set a $15.00 target price on Energy Recovery and gave the company a “buy” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Energy Recovery presently has an average rating of “Hold” and a consensus price target of $14.25.

Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

Further Reading: Growth Stocks

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