Teacher Retirement System of Texas acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 27,074 shares of the industrial products company's stock, valued at approximately $430,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schroder Investment Management Group purchased a new stake in shares of Energy Recovery during the 4th quarter valued at $160,000. Nebula Research & Development LLC raised its position in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after purchasing an additional 687 shares during the period. Juncture Wealth Strategies LLC purchased a new position in Energy Recovery in the 1st quarter worth $178,000. Polymer Capital Management US LLC purchased a new position in Energy Recovery in the 4th quarter worth $211,000. Finally, Two Sigma Investments LP purchased a new position in Energy Recovery in the 4th quarter worth $229,000. Hedge funds and other institutional investors own 83.58% of the company's stock.
Wall Street Analyst Weigh In
ERII has been the topic of a number of analyst reports. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. B. Riley cut shares of Energy Recovery from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $20.00 to $12.50 in a research report on Thursday, May 8th. Finally, Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.17.
Check Out Our Latest Stock Analysis on ERII
Energy Recovery Trading Down 0.8%
Shares of ERII stock traded down $0.11 during mid-day trading on Friday, reaching $13.54. The stock had a trading volume of 481,804 shares, compared to its average volume of 427,993. The stock's 50-day moving average price is $12.68 and its two-hundred day moving average price is $14.25. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The firm has a market capitalization of $737.93 million, a PE ratio of 36.59 and a beta of 1.01.
Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings data 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 15.21% and a return on equity of 9.96%. The firm had revenue of $8.07 million during the quarter, compared to analysts' expectations of $21.97 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. Energy Recovery's revenue was down 33.1% compared to the same quarter last year. On average, equities research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.
Insider Buying and Selling at Energy Recovery
In other news, Director Arve Hanstveit sold 30,000 shares of Energy Recovery stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $380,400.00. Following the sale, the director owned 655,220 shares of the company's stock, valued at approximately $8,308,189.60. The trade was a 4.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Moon bought 4,200 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the purchase, the chief executive officer directly owned 36,950 shares in the company, valued at approximately $450,790. This represents a 12.82% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company's stock.
Energy Recovery Company Profile
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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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