Teacher Retirement System of Texas Acquires New Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Teacher Retirement System of Texas purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,074 shares of the industrial products company's stock, valued at approximately $430,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ERII. Schroder Investment Management Group acquired a new position in shares of Energy Recovery in the fourth quarter valued at about $160,000. Nebula Research & Development LLC increased 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 valued at $170,000 after purchasing an additional 687 shares during the period. Juncture Wealth Strategies LLC acquired a new position in shares of Energy Recovery in the first quarter valued at about $178,000. Polymer Capital Management US LLC acquired a new position in shares of Energy Recovery in the fourth quarter valued at about $211,000. Finally, Two Sigma Investments LP acquired a new position in shares of Energy Recovery in the fourth quarter valued at about $229,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Energy Recovery

In other news, CEO David W. Moon purchased 4,200 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the completion of the transaction, the chief executive officer owned 36,950 shares of the company's stock, valued at $450,790. This trade represents a 12.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela L. Tondreau purchased 4,200 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $12.28 per share, with a total value of $51,576.00. Following the completion of the transaction, the director directly owned 41,043 shares of the company's stock, valued at $504,008.04. This represents a 11.40% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Energy Recovery currently has an average rating of "Buy" and an average price target of $18.17.

Energy Recovery Trading Up 0.1%

ERII traded up $0.01 during trading on Monday, hitting $13.55. The company's stock had a trading volume of 316,066 shares, compared to its average volume of 428,357. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The business's fifty day simple moving average is $12.68 and its 200 day simple moving average is $14.24. The firm has a market capitalization of $738.48 million, a price-to-earnings ratio of 36.62 and a beta of 1.01.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data 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). Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The business had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm's revenue for the quarter was down 33.1% on a year-over-year basis. As a group, equities research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal 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.