IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 25,509 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,000 shares of the industrial products company's stock after acquiring an additional 25,509 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.25% of Energy Recovery worth $1,874,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sentry Investment Management LLC grew its holdings in Energy Recovery by 23.2% in the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company's stock worth $120,000 after purchasing an additional 1,438 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Energy Recovery in the first quarter valued at about $158,000. Lazard Asset Management LLC boosted its holdings in Energy Recovery by 39.6% in the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company's stock worth $171,000 after acquiring an additional 3,076 shares in the last quarter. Martin Currie Ltd. purchased a new stake in shares of Energy Recovery during the fourth quarter worth about $276,000. Finally, Clear Creek Financial Management LLC purchased a new stake in shares of Energy Recovery during the first quarter worth about $244,000. Institutional investors own 83.58% of the company's stock.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of research analyst reports. StockNews.com upgraded Energy Recovery from a "sell" rating to a "hold" rating in a research note on Thursday, August 1st. Raymond James upgraded Energy Recovery from an "outperform" rating to a "strong-buy" rating and set a $21.00 target price on the stock in a research report on Tuesday, July 9th.

Energy Recovery Stock Performance

NASDAQ ERII traded down $0.13 during trading hours on Thursday, reaching $16.44. The stock had a trading volume of 287,012 shares, compared to its average volume of 429,367. The stock has a fifty day moving average of $15.17 and a 200 day moving average of $14.68. The stock has a market cap of $942.51 million, a P/E ratio of 48.35 and a beta of 1.23. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $28.00.

Insider Activity at Energy Recovery

In related news, Director Arve Hanstveit sold 20,000 shares of the firm's stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $13.20, for a total value of $264,000.00. Following the transaction, the director now directly owns 763,182 shares of the company's stock, valued at approximately $10,074,002.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Arve Hanstveit sold 20,000 shares of the firm's stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $13.20, for a total value of $264,000.00. Following the transaction, the director now directly owns 763,182 shares of the company's stock, valued at approximately $10,074,002.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Moon purchased 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now directly owns 32,750 shares in the company, valued at approximately $524,000. The disclosure for this purchase can be found here. Insiders have sold a total of 28,444 shares of company stock worth $387,536 over the last quarter. Insiders own 4.10% of the company's stock.

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.

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