Wellington Management Group LLP Cuts Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Wellington Management Group LLP lowered its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 47.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,024 shares of the industrial products company's stock after selling 130,887 shares during the quarter. Wellington Management Group LLP owned about 0.27% of Energy Recovery worth $2,147,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ERII. Schroder Investment Management Group acquired a new position in shares of Energy Recovery in the 4th quarter valued at about $160,000. Nebula Research & Development LLC increased its holdings in 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 purchasing an additional 687 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Energy Recovery in the fourth quarter valued at approximately $211,000. Two Sigma Investments LP bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $229,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $234,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Price Performance

Shares of NASDAQ:ERII traded up $0.09 during trading on Monday, reaching $12.72. 329,970 shares of the stock were exchanged, compared to its average volume of 424,829. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27. The stock has a fifty day moving average of $13.83 and a two-hundred day moving average of $14.82. The firm has a market cap of $693.23 million, a price-to-earnings ratio of 37.41 and a beta of 1.02.

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 for the quarter, missing the consensus estimate of $0.03 by ($0.16). The business had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business's quarterly revenue was down 33.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) EPS. Sell-side analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ERII. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, B. Riley lowered shares of Energy Recovery from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $18.88.

Insider Activity at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company's stock, valued at $11,326,593.88. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Moon bought 4,200 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 36,950 shares of the company's stock, valued at $450,790. The trade was a 12.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.

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.