Energy Recovery, Inc. (NASDAQ:ERII) Shares Bought by Jane Street Group LLC

Jane Street Group LLC lifted its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 155.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,280 shares of the industrial products company's stock after acquiring an additional 48,191 shares during the quarter. Jane Street Group LLC owned 0.14% of Energy Recovery worth $1,165,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Energy Recovery by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company's stock worth $47,810,000 after acquiring an additional 43,290 shares in the last quarter. KBC Group NV boosted its holdings in shares of Energy Recovery by 0.4% in the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company's stock valued at $18,270,000 after buying an additional 4,670 shares during the period. Baillie Gifford & Co. grew its position in shares of Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock valued at $16,462,000 after buying an additional 243,653 shares during the last quarter. Invesco Ltd. grew its position in shares of Energy Recovery by 14.4% during the 4th quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company's stock valued at $12,617,000 after buying an additional 107,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Energy Recovery by 13.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 768,091 shares of the industrial products company's stock valued at $11,291,000 after buying an additional 89,248 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. B. Riley downgraded shares of Energy Recovery from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. StockNews.com lowered Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.88.

Insiders Place Their Bets

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela L. Tondreau purchased 4,200 shares of Energy Recovery stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $12.28 per share, with a total value of $51,576.00. Following the transaction, the director now directly owns 41,043 shares in the company, valued at $504,008.04. This trade represents a 11.40% increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.

Energy Recovery Stock Down 1.3%

Energy Recovery stock opened at $12.91 on Wednesday. The firm has a 50-day moving average price of $14.86 and a two-hundred day moving average price of $15.37. The firm has a market capitalization of $703.58 million, a price-to-earnings ratio of 37.97 and a beta of 1.09. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27.

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

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.

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