Roubaix Capital LLC Acquires New Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Roubaix Capital LLC purchased a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 138,534 shares of the industrial products company's stock, valued at approximately $1,841,000. Roubaix Capital LLC owned 0.24% of Energy Recovery at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery during the 2nd quarter valued at about $26,000. Sentry Investment Management LLC boosted its holdings in shares of Energy Recovery by 23.2% during the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company's stock worth $120,000 after buying an additional 1,438 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Energy Recovery during the 1st quarter worth approximately $158,000. Lazard Asset Management LLC grew its position in shares of Energy Recovery by 39.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company's stock worth $171,000 after buying an additional 3,076 shares during the period. Finally, Martin Currie Ltd. bought a new stake in shares of Energy Recovery in the 4th quarter valued at $276,000. 83.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Energy Recovery

In related news, Director Arve Hanstveit sold 20,000 shares of the company'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 sale, the director now owns 763,182 shares in the company, valued at approximately $10,074,002.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David W. Moon bought 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 32,750 shares in the company, valued at approximately $524,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of the business's stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.20, for a total transaction of $264,000.00. Following the transaction, the director now owns 763,182 shares in the company, valued at $10,074,002.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,444 shares of company stock worth $387,536. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Raymond James raised shares of Energy Recovery from an "outperform" rating to a "strong-buy" rating and set a $21.00 target price on the stock in a research note on Tuesday, July 9th. StockNews.com raised shares of Energy Recovery from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st.

Energy Recovery Price Performance

Shares of NASDAQ:ERII traded down $1.04 during trading on Thursday, reaching $14.79. 428,353 shares of the stock were exchanged, compared to its average volume of 428,282. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $25.65. The stock has a fifty day moving average of $15.44 and a two-hundred day moving average of $14.67. The firm has a market cap of $847.91 million, a price-to-earnings ratio of 43.50 and a beta of 1.23.

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.