Price T Rowe Associates Inc. MD Has $563,000 Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Price T Rowe Associates Inc. MD grew its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 9.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 38,275 shares of the industrial products company’s stock after purchasing an additional 3,364 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Energy Recovery were worth $563,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Avanza Fonder AB acquired a new stake in shares of Energy Recovery during the fourth quarter worth approximately $107,000. Schroder Investment Management Group bought a new position in shares of Energy Recovery during the fourth quarter worth $160,000. Polymer Capital Management US LLC bought a new position in shares of Energy Recovery during the fourth quarter worth $211,000. Dynamic Technology Lab Private Ltd bought a new stake in Energy Recovery in the 4th quarter valued at $234,000. Finally, Martin Currie Ltd. lifted its position in Energy Recovery by 53.7% in the 4th quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 6,394 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. B. Riley lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. StockNews.com cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Energy Recovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.88.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $12.26 on Wednesday. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The firm has a 50 day moving average price of $15.29 and a two-hundred day moving average price of $15.57. The stock has a market cap of $671.31 million, a P/E ratio of 36.06 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was down 33.1% compared to the same quarter last year. Analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rodney Clemente sold 21,444 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Profile

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.