Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Alpha Wave Global LP

Alpha Wave Global LP lowered its holdings in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 64.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 418,034 shares of the industrial products company's stock after selling 753,552 shares during the quarter. Energy Recovery accounts for about 2.8% of Alpha Wave Global LP's investment portfolio, making the stock its 7th largest position. Alpha Wave Global LP owned about 0.72% of Energy Recovery worth $6,145,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ERII. Avanza Fonder AB acquired a new position in Energy Recovery during the 4th quarter valued at $107,000. Schroder Investment Management Group acquired a new stake in Energy Recovery during the fourth quarter worth about $160,000. Polymer Capital Management US LLC bought a new stake in shares of Energy Recovery in the 4th quarter worth approximately $211,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Energy Recovery during the 4th quarter worth approximately $234,000. Finally, Martin Currie Ltd. increased its position in shares of Energy Recovery by 53.7% during the fourth quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 6,394 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Energy Recovery from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Energy Recovery currently has an average rating of "Buy" and an average target price of $20.75.

Energy Recovery Stock Down 0.1 %

Shares of ERII traded down $0.02 on Wednesday, hitting $14.86. The company's stock had a trading volume of 180,228 shares, compared to its average volume of 402,712. The firm's fifty day moving average price is $15.45 and its 200-day moving average price is $15.95. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The firm has a market capitalization of $816.63 million, a price-to-earnings ratio of 43.71 and a beta of 1.05.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. This represents a 16.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

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.