Cubist Systematic Strategies LLC Makes New Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Cubist Systematic Strategies LLC acquired a new position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 59,800 shares of the industrial products company's stock, valued at approximately $879,000. Cubist Systematic Strategies LLC owned approximately 0.10% of Energy Recovery at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nebula Research & Development LLC increased its holdings in shares of Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after acquiring an additional 687 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 830 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Energy Recovery by 2.9% during the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock worth $550,000 after acquiring an additional 1,050 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 acquiring an additional 1,808 shares during the last quarter. Finally, MetLife Investment Management LLC boosted 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 acquiring an additional 1,924 shares during the last quarter. Institutional investors own 83.58% of the company's stock.

Insider Activity

In related news, Director Arve Hanstveit sold 50,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Moon purchased 4,200 shares of Energy Recovery stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average price of $12.20 per share, for a total transaction of $51,240.00. Following the transaction, the chief executive officer now directly owns 36,950 shares of the company's stock, valued at $450,790. The trade was a 12.82% increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

ERII has been the topic of a number of analyst reports. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. StockNews.com cut 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.88.

Energy Recovery Stock Performance

Shares of Energy Recovery stock traded down $0.12 on Tuesday, hitting $12.96. 98,016 shares of the company traded hands, compared to its average volume of 417,993. The stock has a market capitalization of $706.31 million, a P/E ratio of 38.12 and a beta of 1.09. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The business has a 50-day simple moving average of $14.93 and a 200 day simple moving average of $15.39.

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

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.