Fox Run Management L.L.C. Invests $305,000 in Energy Recovery, Inc. (NASDAQ:ERII)

Fox Run Management L.L.C. acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,728 shares of the industrial products company's stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of Energy Recovery during the 4th quarter worth about $5,741,000. KLP Kapitalforvaltning AS bought a new position in Energy Recovery during the 4th quarter worth approximately $4,670,000. Baillie Gifford & Co. boosted its stake in Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock worth $16,462,000 after acquiring an additional 243,653 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Energy Recovery by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company's stock valued at $4,780,000 after purchasing an additional 109,847 shares during the period. Finally, SG Americas Securities LLC increased its stake in Energy Recovery by 552.4% in the fourth quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company's stock valued at $1,563,000 after purchasing an additional 90,008 shares in the last quarter. Institutional investors own 83.58% of the company's stock.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the firm's stock in a transaction 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 directly owns 111,109 shares of the company's stock, valued at approximately $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.

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Analyst Upgrades and Downgrades

A number of research firms recently commented on ERII. StockNews.com raised Energy Recovery from a "hold" rating to a "buy" rating in a research note on Saturday. Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. Finally, Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective on the stock. One 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's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $20.75.

Energy Recovery Stock Performance

NASDAQ ERII traded down $0.14 on Tuesday, reaching $15.75. The company had a trading volume of 47,721 shares, compared to its average volume of 396,837. The company's fifty day moving average is $15.35 and its 200-day moving average is $16.20. The firm has a market capitalization of $865.54 million, a price-to-earnings ratio of 46.25 and a beta of 1.21. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. On average, research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

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.