Point72 Asset Management L.P. Invests $909,000 in Energy Recovery, Inc. (NASDAQ:ERII)

Point72 Asset Management L.P. acquired a new position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 61,851 shares of the industrial products company's stock, valued at approximately $909,000. Point72 Asset Management L.P. owned about 0.11% of Energy Recovery as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in Energy Recovery by 99.0% during the 4th quarter. Bank of Montreal Can now owns 49,358 shares of the industrial products company's stock valued at $726,000 after buying an additional 24,555 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock valued at $6,989,000 after buying an additional 6,834 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Energy Recovery by 9.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,275 shares of the industrial products company's stock valued at $563,000 after buying an additional 3,364 shares in the last quarter. SG Americas Securities LLC grew its holdings in Energy Recovery by 552.4% during the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company's stock valued at $1,563,000 after buying an additional 90,008 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Energy Recovery during the 4th quarter valued at about $860,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela L. Tondreau bought 4,200 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $12.28 per share, for a total transaction of $51,576.00. Following the completion of the purchase, the director now owns 41,043 shares of the company's stock, valued at approximately $504,008.04. The trade was a 11.40% increase in their position. The disclosure for this purchase can be found here. Insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ERII. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, B. Riley downgraded Energy Recovery from a "buy" rating to a "neutral" rating and dropped their price target for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $18.88.

Energy Recovery Trading Up 1.0%

Shares of ERII traded up $0.13 during trading hours on Tuesday, reaching $12.69. 167,993 shares of the company's stock traded hands, compared to its average volume of 422,976. The stock has a market cap of $691.59 million, a PE ratio of 37.32 and a beta of 1.09. The firm's 50 day simple moving average is $14.57 and its 200-day simple moving average is $15.15. Energy Recovery, Inc. has a 12 month low of $10.86 and a 12 month high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly 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). The business had revenue of $8.07 million for the quarter, compared to the consensus estimate of $21.97 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business's revenue was down 33.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. As a group, analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Energy Recovery Company 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.