Alpha Wave Global LP Grows Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Alpha Wave Global LP boosted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 93.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,171,586 shares of the industrial products company's stock after acquiring an additional 564,463 shares during the period. Energy Recovery accounts for 6.3% of Alpha Wave Global LP's investment portfolio, making the stock its 5th biggest holding. Alpha Wave Global LP owned approximately 2.02% of Energy Recovery worth $20,374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ERII. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery in the second quarter valued at approximately $26,000. CWM LLC boosted its holdings in Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 4,177 shares during the period. AXA S.A. acquired a new stake in Energy Recovery in the 2nd quarter worth $149,000. ProShare Advisors LLC bought a new position in shares of Energy Recovery during the 1st quarter worth about $158,000. Finally, AQR Capital Management LLC raised its position in shares of Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock valued at $159,000 after buying an additional 1,986 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Energy Recovery Stock Performance

Shares of ERII stock traded down $0.13 during trading hours on Wednesday, hitting $15.20. The company had a trading volume of 435,498 shares, compared to its average volume of 437,462. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The firm's fifty day moving average is $17.75 and its 200 day moving average is $15.76. The firm has a market capitalization of $879.93 million, a price-to-earnings ratio of 45.09 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to analysts' expectations of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. On average, sell-side analysts expect that Energy Recovery, Inc. will post 0.41 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In other news, SVP Rodney Clemente sold 4,207 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the transaction, the senior vice president now directly owns 106,367 shares of the company's stock, valued at $2,133,722.02. The trade was a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ERII. StockNews.com raised Energy Recovery from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. B. Riley decreased their price objective on Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, Evercore ISI decreased their price target on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.33.

About Energy Recovery

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.