Horizon Kinetics Asset Management LLC Takes Position in Energy Recovery, Inc. $ERII

Horizon Kinetics Asset Management LLC acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,440 shares of the industrial products company’s stock, valued at approximately $363,000. Horizon Kinetics Asset Management LLC owned 0.05% of Energy Recovery as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its position in Energy Recovery by 328.2% during the second quarter. American Century Companies Inc. now owns 43,775 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 33,553 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Energy Recovery by 21.2% during the 2nd quarter. Franklin Resources Inc. now owns 38,567 shares of the industrial products company’s stock valued at $493,000 after buying an additional 6,740 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Energy Recovery by 12.9% during the 2nd quarter. Legal & General Group Plc now owns 989,154 shares of the industrial products company’s stock valued at $12,641,000 after acquiring an additional 113,141 shares during the period. Magnetar Financial LLC increased its holdings in Energy Recovery by 19.2% in the 2nd quarter. Magnetar Financial LLC now owns 16,762 shares of the industrial products company’s stock worth $214,000 after acquiring an additional 2,699 shares in the last quarter. Finally, Raiffeisen Bank International AG grew its position in Energy Recovery by 6.1% in the second quarter. Raiffeisen Bank International AG now owns 260,000 shares of the industrial products company’s stock worth $3,154,000 after acquiring an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII opened at $13.88 on Tuesday. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $18.32. The firm has a market cap of $735.25 million, a PE ratio of 33.05 and a beta of 1.10. The firm’s 50 day simple moving average is $15.59 and its 200-day simple moving average is $14.12.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Energy Recovery had a return on equity of 11.67% and a net margin of 17.02%.The firm had revenue of $32.00 million for the quarter, compared to analyst estimates of $29.94 million. Energy Recovery has set its FY 2025 guidance at EPS. Equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ERII. Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a research report on Tuesday, October 14th. Loop Capital set a $18.20 target price on Energy Recovery in a research report on Monday, November 10th. CJS Securities initiated coverage on Energy Recovery in a report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 price target on the stock. Finally, B. Riley reissued a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.30.

Insider Activity

In related news, insider William Yeung sold 33,554 shares of Energy Recovery stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $14.51, for a total transaction of $486,868.54. Following the transaction, the insider directly owned 97,369 shares of the company’s stock, valued at $1,412,824.19. This trade represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 72,333 shares of company stock worth $1,122,195 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Energy Recovery Company 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.