235,000 Shares in Energy Recovery, Inc. (NASDAQ:ERII) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 235,000 shares of the industrial products company's stock, valued at approximately $3,459,000. Raiffeisen Bank International AG owned approximately 0.41% of Energy Recovery at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nebula Research & Development LLC lifted its holdings in shares of Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after buying an additional 687 shares during the period. Manchester Capital Management LLC lifted its holdings in Energy Recovery by 2.9% in the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after acquiring an additional 830 shares during the period. DnB Asset Management AS lifted its holdings in Energy Recovery by 2.9% in the fourth quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock valued at $550,000 after acquiring an additional 1,050 shares during the period. Van ECK Associates Corp boosted its position in shares of Energy Recovery by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock worth $1,440,000 after purchasing an additional 1,808 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Energy Recovery by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 34,130 shares of the industrial products company's stock worth $502,000 after purchasing an additional 1,924 shares during the period. Institutional investors and hedge funds own 83.58% of the company's stock.

Insiders Place Their Bets

In other news, Director Pamela L. Tondreau purchased 4,200 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $12.28 per share, with a total value of $51,576.00. Following the purchase, the director now directly owns 41,043 shares of the company's stock, valued at approximately $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. This represents a 6.73% decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ERII. B. Riley downgraded shares of Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. StockNews.com downgraded shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Energy Recovery presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.88.

Energy Recovery Stock Performance

NASDAQ:ERII traded down $0.14 during mid-day trading on Wednesday, hitting $12.77. 181,956 shares of the company's stock traded hands, compared to its average volume of 419,678. The company has a market cap of $696.17 million, a PE ratio of 37.87 and a beta of 1.09. The firm's 50 day simple moving average is $14.86 and its 200 day simple moving average is $15.37. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $8.07 million for the quarter, compared to analysts' expectations of $21.97 million. During the same period last year, the business earned ($0.08) earnings per share. The company's revenue for the quarter was down 33.1% on a year-over-year basis. On average, research analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

About Energy Recovery

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.