Trexquant Investment LP Takes $1.79 Million Position in Energy Recovery, Inc. (NASDAQ:ERII)

Trexquant Investment LP acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 121,903 shares of the industrial products company's stock, valued at approximately $1,792,000. Trexquant Investment LP owned 0.21% of Energy Recovery at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ERII. Franklin Resources Inc. purchased a new stake in Energy Recovery in the fourth quarter valued at $459,000. Martin Currie Ltd. raised its position in shares of Energy Recovery by 53.7% in the fourth quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company's stock worth $269,000 after acquiring an additional 6,394 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Energy Recovery during the 4th quarter worth about $160,000. DnB Asset Management AS grew its position in shares of Energy Recovery by 2.9% during the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock valued at $550,000 after acquiring an additional 1,050 shares during the period. Finally, Duff & Phelps Investment Management Co. acquired a new position in Energy Recovery in the 4th quarter worth about $3,798,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 of the company's stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Energy Recovery has an average rating of "Buy" and an average price target of $20.75.

Energy Recovery Stock Up 1.1 %

Shares of Energy Recovery stock traded up $0.16 during trading hours on Monday, reaching $15.00. 22,882 shares of the company's stock were exchanged, compared to its average volume of 356,528. The business has a fifty day moving average of $15.44 and a two-hundred day moving average of $16.06. The company has a market capitalization of $824.33 million, a P/E ratio of 44.12 and a beta of 1.05. 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 issued its earnings results 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 company had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. As a group, research analysts predict that Energy Recovery, Inc. will post 0.36 EPS 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.