Deutsche Bank AG Increases Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Deutsche Bank AG increased its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,317 shares of the industrial products company's stock after buying an additional 40,811 shares during the period. Deutsche Bank AG owned 0.52% of Energy Recovery worth $4,415,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Energy Recovery in the fourth quarter worth about $879,000. Centiva Capital LP bought a new stake in Energy Recovery during the fourth quarter worth approximately $319,000. Bank of America Corp DE increased its stake in Energy Recovery by 1.9% during the fourth quarter. Bank of America Corp DE now owns 195,607 shares of the industrial products company's stock worth $2,875,000 after acquiring an additional 3,735 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Energy Recovery by 24.6% during the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock worth $72,823,000 after acquiring an additional 978,490 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Energy Recovery by 124.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,759 shares of the industrial products company's stock worth $658,000 after acquiring an additional 24,853 shares during the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Price Performance

Shares of NASDAQ:ERII traded down $0.19 during trading hours on Thursday, hitting $12.45. 540,404 shares of the company's stock traded hands, compared to its average volume of 422,582. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $20.27. The business has a fifty day moving average price of $14.72 and a 200-day moving average price of $15.31. The firm has a market capitalization of $678.51 million, a P/E ratio of 36.62 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) 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 analysts' expectations of $21.97 million. During the same quarter last year, the firm earned ($0.08) EPS. The firm's quarterly revenue was down 33.1% on a year-over-year basis. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $20.00 to $12.50 in a research note on Thursday, May 8th. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Wall Street Zen cut Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $18.88.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Moon purchased 4,200 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of $12.20 per share, with a total value of $51,240.00. Following the acquisition, the chief executive officer now directly owns 36,950 shares of the company's stock, valued at $450,790. This trade represents a 12.82% increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.10% 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.