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

Jump Financial LLC acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,723 shares of the industrial products company's stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERII. Russell Investments Group Ltd. increased its position in Energy Recovery by 5,662.3% during the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock worth $138,000 after purchasing an additional 8,550 shares in the last quarter. American Century Companies Inc. acquired a new stake in Energy Recovery in the 1st quarter worth about $162,000. Juncture Wealth Strategies LLC acquired a new stake in Energy Recovery in the 1st quarter worth about $178,000. Two Sigma Investments LP acquired a new stake in Energy Recovery in the 4th quarter worth about $229,000. Finally, ProShare Advisors LLC boosted its stake in Energy Recovery by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 15,993 shares of the industrial products company's stock worth $235,000 after buying an additional 5,264 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

Energy Recovery Stock Up 0.8%

Shares of NASDAQ ERII traded up $0.11 during midday trading on Friday, hitting $14.42. The stock had a trading volume of 325,647 shares, compared to its average volume of 375,597. The company has a market capitalization of $767.14 million, a price-to-earnings ratio of 34.33 and a beta of 1.01. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27. The company has a fifty day moving average price of $13.80 and a 200 day moving average price of $14.08.

Insider Activity

In related news, SVP Rodney Clemente sold 5,387 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the transaction, the senior vice president directly owned 100,765 shares of the company's stock, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total value of $380,400.00. Following the transaction, the director directly 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. Insiders sold a total of 55,387 shares of company stock worth $710,656 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of research analyst reports. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. B. Riley raised their price target on Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Energy Recovery currently has an average rating of "Buy" and an average price target of $18.67.

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.