Energy Recovery, Inc. (NASDAQ:ERII) Stake Cut by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. decreased its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 17.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 379,418 shares of the industrial products company's stock after selling 82,055 shares during the period. D. E. Shaw & Co. Inc. owned about 0.66% of Energy Recovery worth $5,577,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Avanza Fonder AB purchased a new stake in shares of Energy Recovery in the fourth quarter valued at $107,000. Schroder Investment Management Group purchased a new position in Energy Recovery in the 4th quarter valued at about $160,000. Nebula Research & Development LLC boosted its stake in shares of Energy Recovery by 6.3% during 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 during the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Energy Recovery during the fourth quarter worth about $211,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Energy Recovery in the fourth quarter valued at approximately $234,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on ERII shares. StockNews.com cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. B. Riley downgraded 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. 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.88.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Moon bought 4,200 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of $12.20 per share, with a total value of $51,240.00. Following the transaction, the chief executive officer now directly owns 36,950 shares of the company's stock, valued at approximately $450,790. This trade represents a 12.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company's stock.

Energy Recovery Stock Performance

Energy Recovery stock traded down $0.17 during midday trading on Tuesday, reaching $12.91. The stock had a trading volume of 533,956 shares, compared to its average volume of 419,682. The stock's 50-day simple moving average is $14.93 and its 200 day simple moving average is $15.39. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The stock has a market capitalization of $703.58 million, a PE ratio of 37.97 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results 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). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $8.07 million for the quarter, compared to analysts' expectations of $21.97 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm's revenue for the quarter was down 33.1% compared to the same quarter last year. Equities analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

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.