DekaBank Deutsche Girozentrale Sells 196,100 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

DekaBank Deutsche Girozentrale cut its holdings in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 76.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,973 shares of the industrial products company's stock after selling 196,100 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of Energy Recovery worth $1,139,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Energy Recovery by 79.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,264 shares of the industrial products company's stock valued at $29,000 after buying an additional 558 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Energy Recovery during the third quarter worth approximately $29,000. Catalyst Capital Advisors LLC acquired a new position in shares of Energy Recovery during the third quarter worth approximately $29,000. Clear Street Markets LLC acquired a new position in shares of Energy Recovery during the third quarter worth approximately $33,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Energy Recovery during the first quarter worth approximately $49,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Trading Down 2.7 %

Energy Recovery stock traded down $0.39 during trading on Monday, hitting $13.98. 192,135 shares of the company were exchanged, compared to its average volume of 465,125. The business's 50 day moving average is $15.26 and its 200 day moving average is $17.18. Energy Recovery, Inc. has a 52 week low of $13.92 and a 52 week high of $30.76. The company has a market capitalization of $797.98 million, a P/E ratio of 38.38 and a beta of 1.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. The company had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. During the same quarter last year, the company posted $0.24 EPS. The company's quarterly revenue was up 35.2% compared to the same quarter last year. Equities analysts expect that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Separately, Evercore ISI lowered their target price on Energy Recovery from $26.00 to $24.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th.

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the transaction, the director now owns 807,055 shares in the company, valued at approximately $12,501,281.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the transaction, the director now owns 807,055 shares in the company, valued at approximately $12,501,281.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Moon acquired 10,750 shares of Energy Recovery stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $15.51 per share, with a total value of $166,732.50. Following the purchase, the chief executive officer now directly owns 19,250 shares in the company, valued at $298,567.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 96,457 shares of company stock worth $1,519,283. 4.70% of the stock is owned by corporate insiders.

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.