AlphaQuest LLC Makes New Investment in Energy Recovery, Inc. $ERII

Key Points

• AlphaQuest LLC has invested approximately $336,000 in Energy Recovery, Inc. by acquiring 21,152 shares of the company's stock.
• As of now, 83.58% of Energy Recovery's stock is owned by institutional investors and hedge funds, indicating strong institutional interest.
• Energy Recovery's stock has a market cap of $775.12 million and a price-to-earnings ratio of 34.69, with its shares trading at $14.57.

AlphaQuest LLC acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,152 shares of the industrial products company's stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in Energy Recovery by 5,662.3% in the first quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock valued at $138,000 after acquiring an additional 8,550 shares during the period. American Century Companies Inc. purchased a new position in shares of Energy Recovery during the 1st quarter valued at approximately $162,000. Nebula Research & Development LLC lifted its stake 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 purchasing an additional 687 shares during the period. Juncture Wealth Strategies LLC purchased a new stake in Energy Recovery during the first quarter worth $178,000. Finally, Two Sigma Investments LP purchased a new stake in Energy Recovery during the fourth quarter worth $229,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Price Performance

Energy Recovery stock traded up $0.13 during midday trading on Tuesday, reaching $14.34. The company had a trading volume of 438,923 shares, compared to its average volume of 383,327. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The company has a market capitalization of $762.89 million, a P/E ratio of 34.14 and a beta of 1.01. The firm's fifty day simple moving average is $13.68 and its 200-day simple moving average is $14.11.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. B. Riley upped their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.67.

Insider Activity at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.97, for a total value of $75,256.39. Following the transaction, the senior vice president owned 100,765 shares in the company, valued at approximately $1,407,687.05. This trade represents a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 30,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total transaction of $380,400.00. Following the sale, the director directly owned 655,220 shares of the company's stock, valued at $8,308,189.60. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,387 shares of company stock worth $710,656. Company insiders own 3.20% of the company's stock.

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.