Short Interest in Energy Recovery, Inc. (NASDAQ:ERII) Expands By 12.1%

Energy Recovery, Inc. (NASDAQ:ERII) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,430,000 shares, an increase of 12.1% from the October 15th total of 3,060,000 shares. Based on an average daily volume of 516,900 shares, the days-to-cover ratio is presently 6.6 days. Approximately 6.2% of the company’s stock are sold short.

Energy Recovery Trading Up 0.1 %

ERII stock traded up $0.02 during trading hours on Friday, hitting $19.44. 751,726 shares of the stock were exchanged, compared to its average volume of 417,265. Energy Recovery has a 12 month low of $14.04 and a 12 month high of $30.76. The firm has a market capitalization of $1.10 billion, a P/E ratio of 72.59 and a beta of 1.30. The company has a 50-day simple moving average of $19.67 and a two-hundred day simple moving average of $24.38.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $37.00 million for the quarter, compared to analyst estimates of $31.29 million. Energy Recovery had a net margin of 13.60% and a return on equity of 9.28%. Energy Recovery’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, equities research analysts predict that Energy Recovery will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ERII shares. StockNews.com began coverage on shares of Energy Recovery in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Raymond James lowered their price target on shares of Energy Recovery from $30.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd.

Insider Buying and Selling at Energy Recovery

In related news, Director Joan Kai Chow acquired 1,500 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $17.79 per share, for a total transaction of $26,685.00. Following the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $26,685. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Rodney Clemente sold 31,373 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $27.03, for a total value of $848,012.19. Following the completion of the sale, the senior vice president now directly owns 55,901 shares of the company’s stock, valued at $1,511,004.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joan Kai Chow bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $17.79 per share, for a total transaction of $26,685.00. Following the completion of the acquisition, the director now directly owns 1,500 shares in the company, valued at approximately $26,685. The disclosure for this purchase can be found here. Insiders sold a total of 245,201 shares of company stock worth $5,606,771 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in shares of Energy Recovery by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 11,393 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 395 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Energy Recovery by 1.4% in the 2nd quarter. MetLife Investment Management LLC now owns 29,505 shares of the industrial products company’s stock valued at $825,000 after buying an additional 413 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Energy Recovery by 10.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,602 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 417 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Energy Recovery by 3.7% during the 1st quarter. Dark Forest Capital Management LP now owns 11,788 shares of the industrial products company’s stock worth $272,000 after acquiring an additional 424 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Energy Recovery by 3.1% during the first quarter. Arizona State Retirement System now owns 14,602 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 435 shares in the last quarter. 79.49% of the stock is currently owned by institutional investors.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. The company operates through Water and Emerging Technologies segments. It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services.