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

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

A number of other large investors have also recently bought and sold shares of ERII. Avanza Fonder AB purchased a new stake in Energy Recovery in the fourth quarter valued at approximately $107,000. Schroder Investment Management Group purchased a new stake in Energy Recovery in the fourth quarter valued at approximately $160,000. Nebula Research & Development LLC boosted its position in 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 worth $170,000 after purchasing an additional 687 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in Energy Recovery in the 4th quarter worth approximately $211,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Energy Recovery in the 4th quarter worth approximately $234,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

Energy Recovery Stock Up 0.4%

Shares of ERII opened at $12.31 on Thursday. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The company has a market capitalization of $674.05 million, a PE ratio of 36.21 and a beta of 1.09. The stock has a fifty day simple moving average of $15.22 and a two-hundred day simple moving average of $15.55.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm's revenue for the quarter was down 33.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, equities analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERII has been the topic of a number of recent analyst reports. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and decreased their target price for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. StockNews.com downgraded Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Energy Recovery presently has a consensus rating of "Moderate Buy" and an average target price of $18.88.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. This trade represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares of the company's stock, valued at $1,713,300.78. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company's stock.

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.

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