Y Intercept Hong Kong Ltd Takes $443,000 Position in Energy Recovery, Inc. (NASDAQ:ERII)

Y Intercept Hong Kong Ltd purchased a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,885 shares of the industrial products company's stock, valued at approximately $443,000. Y Intercept Hong Kong Ltd owned 0.05% of Energy Recovery at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ERII. Schroder Investment Management Group bought a new position in Energy Recovery in the fourth quarter valued at approximately $160,000. Nebula Research & Development LLC grew its stake 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 valued at $170,000 after purchasing an additional 687 shares in the last quarter. Juncture Wealth Strategies LLC bought a new position in shares of Energy Recovery during the 1st quarter worth approximately $178,000. Polymer Capital Management US LLC bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $211,000. Finally, Two Sigma Investments LP bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $229,000. Institutional investors and hedge funds own 83.58% of the company's stock.

Energy Recovery Price Performance

ERII traded down $0.67 during trading on Friday, hitting $12.79. The stock had a trading volume of 167,690 shares, compared to its average volume of 419,319. The company has a 50 day moving average price of $12.88 and a 200-day moving average price of $14.18. The firm has a market cap of $696.78 million, a price-to-earnings ratio of 34.52 and a beta of 1.01. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced 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 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 revenue was down 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on ERII. Wall Street Zen downgraded Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Finally, B. Riley downgraded Energy Recovery from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $20.00 to $12.50 in a research note on Thursday, May 8th. Two equities research 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's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $18.17.

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.