Renaissance Technologies LLC purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 190,400 shares of the industrial products company's stock, valued at approximately $2,799,000. Renaissance Technologies LLC owned about 0.33% of Energy Recovery as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB acquired a new stake in Energy Recovery during the fourth quarter worth $107,000. Schroder Investment Management Group acquired a new position in Energy Recovery in the fourth quarter valued at about $160,000. Polymer Capital Management US LLC acquired a new stake in shares of Energy Recovery during the fourth quarter valued at about $211,000. Dynamic Technology Lab Private Ltd purchased a new stake in Energy Recovery in the fourth quarter valued at approximately $234,000. Finally, Martin Currie Ltd. grew its position in Energy Recovery by 53.7% in the 4th quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company's stock valued at $269,000 after acquiring an additional 6,394 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.
Insider Activity at Energy Recovery
In other news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were 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 approximately $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now 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. Insiders own 4.10% of the company's stock.
Energy Recovery Trading Down 1.1 %
ERII stock traded down $0.16 during trading on Monday, hitting $15.01. 622,166 shares of the company's stock were exchanged, compared to its average volume of 407,891. The stock has a market capitalization of $821.89 million, a price-to-earnings ratio of 44.15 and a beta of 1.05. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The business has a 50-day moving average price of $15.43 and a two-hundred day moving average price of $15.87.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. On average, equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $20.75.
View Our Latest Stock Report on Energy Recovery
Energy Recovery Company Profile
(
Free Report)
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.
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