JPMorgan Chase & Co. Raises Position in Energy Recovery, Inc. (NASDAQ:ERII)

JPMorgan Chase & Co. boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 66.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,893 shares of the industrial products company's stock after purchasing an additional 109,847 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Energy Recovery worth $4,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC grew its holdings in Energy Recovery by 376.6% during the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company's stock worth $1,681,000 after acquiring an additional 76,393 shares during the period. Geode Capital Management LLC grew its holdings in Energy Recovery by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company's stock worth $23,631,000 after acquiring an additional 56,306 shares during the period. HighTower Advisors LLC grew its holdings in Energy Recovery by 10.6% during the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company's stock worth $578,000 after acquiring an additional 3,176 shares during the period. Alpha Wave Global LP grew its holdings in Energy Recovery by 93.0% during the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company's stock worth $20,374,000 after acquiring an additional 564,463 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Energy Recovery by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company's stock worth $8,150,000 after acquiring an additional 7,440 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 6,505 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the transaction, the senior vice president now owns 133,823 shares of the company's stock, valued at approximately $2,406,137.54. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,406 shares of company stock valued at $1,166,088. 4.10% of the stock is owned by corporate insiders.

Energy Recovery Price Performance

Shares of ERII stock traded up $0.42 on Friday, reaching $14.77. 366,601 shares of the company were exchanged, compared to its average volume of 286,385. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27. The company has a market cap of $855.04 million, a price-to-earnings ratio of 43.44 and a beta of 1.18. The company has a 50-day moving average of $15.73 and a 200-day moving average of $16.26.

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 the consensus estimate of $0.14 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 $38.60 million for the quarter, compared to analysts' expectations of $37.37 million. During the same quarter last year, the firm earned $0.17 EPS. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analyst Ratings Changes

ERII has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. B. Riley decreased their price target on Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Evercore ISI cut their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 19th. Fearnley Fonds cut shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $20.75.

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.