Renaissance Technologies LLC acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 190,400 shares of the industrial products company's stock, valued at approximately $2,799,000. Renaissance Technologies LLC owned 0.33% of Energy Recovery as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Energy Recovery by 14.4% during the 4th quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company's stock valued at $12,617,000 after buying an additional 107,800 shares during the period. Bank of Montreal Can grew its holdings in Energy Recovery by 99.0% during the fourth quarter. Bank of Montreal Can now owns 49,358 shares of the industrial products company's stock valued at $726,000 after purchasing an additional 24,555 shares during the period. Polymer Capital Management US LLC purchased a new stake in Energy Recovery in the fourth quarter worth about $211,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Energy Recovery during the 4th quarter valued at about $234,000. Finally, Wells Fargo & Company MN grew its stake in shares of Energy Recovery by 9.7% during the 4th quarter. Wells Fargo & Company MN now owns 57,652 shares of the industrial products company's stock valued at $847,000 after acquiring an additional 5,115 shares during the period. Hedge funds and other institutional investors own 83.58% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Energy Recovery presently has a consensus rating of "Buy" and a consensus price target of $20.75.
View Our Latest Stock Report on ERII
Energy Recovery Price Performance
Shares of NASDAQ:ERII traded up $0.05 during trading on Wednesday, hitting $15.45. The company had a trading volume of 368,939 shares, compared to its average volume of 408,014. The stock has a market cap of $845.98 million, a price-to-earnings ratio of 45.44 and a beta of 1.05. The company has a fifty day simple moving average of $15.42 and a two-hundred day simple moving average of $15.84. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. On average, equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.
Insider Activity at Energy Recovery
In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company's stock, valued at $11,326,593.88. This represents a 6.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
About Energy Recovery
(
Free Report)
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.
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