D. E. Shaw & Co. Inc. Sells 82,055 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

D. E. Shaw & Co. Inc. reduced its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Avanza Fonder AB purchased a new stake in Energy Recovery during the 4th quarter worth $107,000. Schroder Investment Management Group purchased a new stake in shares of Energy Recovery during the fourth quarter worth about $160,000. Nebula Research & Development LLC lifted its stake in shares of Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after acquiring an additional 687 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in Energy Recovery in the fourth quarter valued at about $211,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Energy Recovery in the fourth quarter valued at about $234,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on ERII shares. Wall Street Zen downgraded shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. B. Riley downgraded shares of Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. Finally, Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $18.88.

Energy Recovery Stock Performance

Shares of ERII stock traded up $0.05 during mid-day trading on Thursday, hitting $12.69. 71,719 shares of the stock traded hands, compared to its average volume of 420,138. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The company's 50-day simple moving average is $14.79 and its 200-day simple moving average is $15.35. The firm has a market cap of $691.32 million, a price-to-earnings ratio of 37.32 and a beta of 1.09.

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