XTX Topco Ltd Buys Shares of 23,568 Energy Recovery, Inc. (NASDAQ:ERII)

Key Points

• XTX Topco Ltd has acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII), purchasing 23,568 shares valued at approximately $374,000.
• Energy Recovery reported a loss of $0.13 EPS for the last quarter, significantly missing the consensus estimate of $0.03 EPS, with a revenue of $8.07 million versus an expected $21.97 million.
• Brokerages are divided on the stock, with ratings ranging from "strong-buy" to "hold," and a consensus average price target of $18.67.

XTX Topco Ltd acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,568 shares of the industrial products company's stock, valued at approximately $374,000.

Several other large investors also recently bought and sold shares of ERII. Nebula Research & Development LLC lifted its stake in shares of 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 valued at $170,000 after purchasing an additional 687 shares during the period. Juncture Wealth Strategies LLC purchased a new stake in shares of Energy Recovery in the first quarter valued at about $178,000. Two Sigma Investments LP purchased a new stake in shares of Energy Recovery in the fourth quarter valued at about $229,000. ProShare Advisors LLC boosted its stake in Energy Recovery by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 15,993 shares of the industrial products company's stock worth $235,000 after buying an additional 5,264 shares during the period. Finally, Clear Creek Financial Management LLC boosted its stake in Energy Recovery by 5.9% during the first quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company's stock worth $242,000 after buying an additional 850 shares during the period. Hedge funds and other institutional investors own 83.58% of the company's stock.

Insider Activity

In other news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the sale, the senior vice president owned 100,765 shares in the company, valued at $1,407,687.05. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela L. Tondreau acquired 4,200 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average price of $12.28 per share, for a total transaction of $51,576.00. Following the purchase, the director directly owned 41,043 shares of the company's stock, valued at approximately $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 55,387 shares of company stock worth $710,656 over the last 90 days. Company insiders own 3.20% of the company's stock.

Energy Recovery Price Performance

NASDAQ ERII traded up $0.41 during mid-day trading on Tuesday, hitting $14.30. The company's stock had a trading volume of 581,579 shares, compared to its average volume of 431,287. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The stock's fifty day simple moving average is $13.09 and its two-hundred day simple moving average is $14.14. The firm has a market capitalization of $760.76 million, a P/E ratio of 34.05 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ERII. Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, B. Riley increased their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $18.67.

Energy Recovery 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.