AlphaQuest LLC Buys New Position 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 filing with the Securities and Exchange Commission. The firm acquired 21,152 shares of the industrial products company's stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ERII. Nebula Research & Development LLC raised its holdings 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 valued at $170,000 after buying an additional 687 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Energy Recovery by 5.9% in the first quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 850 shares in the last quarter. Redmond Asset Management LLC grew its holdings in shares of Energy Recovery by 0.8% during the first quarter. Redmond Asset Management LLC now owns 238,541 shares of the industrial products company's stock worth $3,790,000 after buying an additional 1,881 shares in the last quarter. MetLife Investment Management LLC increased its stake in Energy Recovery by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 34,130 shares of the industrial products company's stock valued at $502,000 after purchasing an additional 1,924 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Energy Recovery by 6.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,744 shares of the industrial products company's stock worth $614,000 after acquiring an additional 2,350 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $13.97, for a total value of $75,256.39. Following the completion of the transaction, the senior vice president owned 100,765 shares in the company, valued at $1,407,687.05. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arve Hanstveit sold 30,000 shares of the business's stock in a transaction dated 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 owned 655,220 shares in the company, valued at $8,308,189.60. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,387 shares of company stock valued at $710,656. Company insiders own 3.20% of the company's stock.

Energy Recovery Price Performance

Shares of NASDAQ ERII traded down $0.20 during midday trading on Monday, hitting $14.21. 210,455 shares of the company's stock were exchanged, compared to its average volume of 400,240. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The firm has a market cap of $755.97 million, a P/E ratio of 33.83 and a beta of 1.01. The stock's 50 day moving average price is $13.60 and its 200-day moving average price is $14.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. B. Riley boosted their price target on Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Two 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $18.67.

About Energy Recovery

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.