IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 71,850 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 51.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,150 shares of the industrial products company's stock after selling 71,850 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.12% of Energy Recovery worth $1,017,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Energy Recovery by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company's stock valued at $47,810,000 after buying an additional 43,290 shares in the last quarter. Geode Capital Management LLC boosted its position in Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company's stock valued at $23,631,000 after buying an additional 56,306 shares during the last quarter. KBC Group NV grew its stake in Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company's stock worth $18,270,000 after purchasing an additional 4,670 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Energy Recovery by 27.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock worth $16,462,000 after purchasing an additional 243,653 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock valued at $6,989,000 after acquiring an additional 6,834 shares during the period. Institutional investors and hedge funds own 83.58% of the company's stock.

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Insider Buying and Selling

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the company'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 sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the business'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 transaction of $817,000.00. Following the transaction, 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. Corporate insiders own 4.10% of the company's stock.

Energy Recovery Price Performance

Shares of ERII traded down $0.04 on Tuesday, hitting $15.85. The company's stock had a trading volume of 104,675 shares, compared to its average volume of 397,032. The company has a market capitalization of $871.15 million, a PE ratio of 46.56 and a beta of 1.21. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The company has a 50 day moving average price of $15.35 and a 200 day moving average price of $16.20.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. On average, equities analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com raised shares of Energy Recovery from a "hold" rating to a "buy" rating in a research report on Saturday. Scotiabank started coverage on shares of Energy Recovery in a report on Thursday, December 5th. They set a "buy" rating and a $22.00 price target for the company. Finally, Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th. 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 stock. According to data from MarketBeat, Energy Recovery presently has a consensus rating of "Buy" and a consensus price target of $20.75.

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.