Arrowstreet Capital Limited Partnership Increases Stake in Energy Recovery, Inc. $ERII

Arrowstreet Capital Limited Partnership lifted its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 47.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,102 shares of the industrial products company's stock after acquiring an additional 165,915 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.00% of Energy Recovery worth $5,177,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ERII. Wexford Capital LP purchased a new position in Energy Recovery during the 3rd quarter valued at about $27,000. Parallel Advisors LLC bought a new stake in shares of Energy Recovery in the 4th quarter valued at about $38,000. Group One Trading LLC purchased a new stake in shares of Energy Recovery in the 1st quarter worth approximately $41,000. Comerica Bank lifted its position in shares of Energy Recovery by 150.5% in the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company's stock worth $52,000 after purchasing an additional 2,324 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Energy Recovery by 172.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 3,803 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ERII. Weiss Ratings downgraded shares of Energy Recovery from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, June 25th. Freedom Capital cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Northcoast Research downgraded Energy Recovery from a "buy" rating to a "neutral" rating in a report on Wednesday, April 15th. Seaport Research Partners reiterated a "buy" rating and issued a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered Energy Recovery from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Energy Recovery has a consensus rating of "Hold" and a consensus price target of $15.00.

Energy Recovery Stock Performance

NASDAQ ERII opened at $8.65 on Monday. The firm's fifty day simple moving average is $8.60 and its two-hundred day simple moving average is $10.72. The firm has a market capitalization of $445.82 million, a P/E ratio of 22.76 and a beta of 0.91. Energy Recovery, Inc. has a 12-month low of $7.83 and a 12-month high of $18.32.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The business had revenue of $9.71 million for the quarter, compared to analysts' expectations of $8.37 million. As a group, sell-side analysts predict that Energy Recovery, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Colin R. Sabol bought 11,180 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the purchase, the director directly owned 55,671 shares of the company's stock, valued at approximately $494,358.48. This trade represents a 25.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela L. Tondreau bought 20,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $8.34 per share, for a total transaction of $166,800.00. Following the transaction, the director owned 37,362 shares in the company, valued at $311,599.08. The trade was a 115.19% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.50% of the company's stock.

Energy Recovery Company Profile

Energy Recovery, Inc NASDAQ: ERII is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company's core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.