Graham Capital Management L.P. Buys 30,378 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Graham Capital Management L.P. increased its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 295.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,675 shares of the industrial products company's stock after buying an additional 30,378 shares during the quarter. Graham Capital Management L.P. owned about 0.07% of Energy Recovery worth $598,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Energy Recovery by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company's stock valued at $4,780,000 after acquiring an additional 109,847 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Energy Recovery by 8.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 150,559 shares of the industrial products company's stock valued at $2,213,000 after purchasing an additional 12,330 shares in the last quarter. Avanza Fonder AB acquired a new position in Energy Recovery during the 4th quarter valued at about $107,000. SG Americas Securities LLC increased its stake in shares of Energy Recovery by 552.4% during the fourth quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company's stock valued at $1,563,000 after acquiring an additional 90,008 shares during the period. Finally, Inspire Investing LLC lifted its position in Energy Recovery by 14.8% in the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock worth $409,000 after purchasing an additional 3,594 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Price Performance

Shares of NASDAQ:ERII traded down $0.37 on Tuesday, reaching $12.71. 142,872 shares of the company traded hands, compared to its average volume of 418,193. The stock has a market capitalization of $692.68 million, a PE ratio of 37.38 and a beta of 1.09. The company's 50 day moving average is $14.93 and its 200-day moving average is $15.39. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates 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 14.35% and a return on equity of 8.90%. The company's revenue for the quarter was down 33.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. As a group, analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ERII shares. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and lowered their price target for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. StockNews.com cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Three 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. According to MarketBeat, Energy Recovery has an average rating of "Moderate Buy" and an average target price of $18.88.

Insider Activity

In related news, Director Pamela L. Tondreau purchased 4,200 shares of Energy Recovery stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $12.28 per share, with a total value of $51,576.00. Following the completion of the transaction, the director now directly owns 41,043 shares of the company's stock, valued at $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares of the company's stock, valued at $1,713,300.78. This trade represents a 16.18% decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company 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.