SG Americas Securities LLC reduced its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 53.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,969 shares of the industrial products company's stock after selling 56,332 shares during the quarter. SG Americas Securities LLC owned 0.09% of Energy Recovery worth $794,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ERII. Schroder Investment Management Group acquired a new position in Energy Recovery during the fourth quarter worth $160,000. Juncture Wealth Strategies LLC acquired a new position in shares of Energy Recovery in the first quarter worth $178,000. Nebula Research & Development LLC raised its holdings in shares of Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after acquiring an additional 687 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Energy Recovery in the fourth quarter valued at $211,000. Finally, Two Sigma Investments LP purchased a new stake in Energy Recovery during the fourth quarter valued at about $229,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ERII has been the topic of a number of recent research reports. Wall Street Zen cut Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. 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. Finally, Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Energy Recovery presently has a consensus rating of "Buy" and an average price target of $18.88.
Read Our Latest Report on ERII
Energy Recovery Price Performance
Shares of ERII traded up $0.17 on Monday, reaching $12.19. 330,907 shares of the stock traded hands, compared to its average volume of 426,488. The stock's 50-day moving average price is $13.36 and its 200-day moving average price is $14.58. The firm has a market cap of $664.36 million, a price-to-earnings ratio of 32.95 and a beta of 1.03. 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 announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. Energy Recovery's quarterly revenue was down 33.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, equities research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Arve Hanstveit sold 20,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.75, for a total value of $255,000.00. Following the completion of the sale, the director now owns 685,220 shares in the company, valued at approximately $8,736,555. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pamela L. Tondreau acquired 4,200 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $12.28 per share, with a total value of $51,576.00. Following the acquisition, the director now directly owns 41,043 shares of the company's stock, valued at $504,008.04. The trade was a 11.40% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.20% of the company's stock.
About Energy Recovery
(
Free Report)
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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