EntryPoint Capital LLC bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 39,372 shares of the industrial products company's stock, valued at approximately $579,000. EntryPoint Capital LLC owned about 0.07% of Energy Recovery as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ERII. Avanza Fonder AB bought a new position in Energy Recovery during the fourth quarter worth $107,000. Fox Run Management L.L.C. bought a new position in shares of Energy Recovery in the 4th quarter worth about $305,000. Intech Investment Management LLC bought a new position in shares of Energy Recovery in the 4th quarter worth about $388,000. Inspire Investing LLC boosted its holdings in shares of Energy Recovery by 14.8% in the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock valued at $409,000 after buying an additional 3,594 shares during the period. Finally, Manchester Capital Management LLC grew its position in shares of Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after buying an additional 830 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.
Energy Recovery Stock Performance
Shares of ERII traded down $0.23 during mid-day trading on Friday, reaching $15.95. 272,105 shares of the company's stock traded hands, compared to its average volume of 398,038. The business's 50-day moving average price is $15.33 and its 200-day moving average price is $16.19. The stock has a market capitalization of $876.53 million, a P/E ratio of 46.91 and a beta of 1.21. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.
Analyst Upgrades and Downgrades
ERII has been the subject of a number of research reports. Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th. StockNews.com raised Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Scotiabank began coverage on Energy Recovery in a research note on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $20.75.
View Our Latest Stock Analysis on ERII
Insider Buying and Selling
In other news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction that occurred on 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company's stock.
Energy Recovery Profile
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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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