Energy Recovery, Inc. (NASDAQ:ERII) Shares Bought by Alpha Wave Global LP

Alpha Wave Global LP boosted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 93.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,171,586 shares of the industrial products company’s stock after buying an additional 564,463 shares during the period. Energy Recovery makes up 6.3% of Alpha Wave Global LP’s portfolio, making the stock its 5th largest holding. Alpha Wave Global LP’s holdings in Energy Recovery were worth $20,374,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new position in Energy Recovery in the 1st quarter valued at about $158,000. Vanguard Group Inc. raised its position in Energy Recovery by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock valued at $47,519,000 after buying an additional 53,720 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in 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 acquiring an additional 3,076 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Energy Recovery by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,756 shares of the industrial products company’s stock worth $470,000 after acquiring an additional 2,018 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Energy Recovery by 13.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 178,451 shares of the industrial products company’s stock worth $2,372,000 after acquiring an additional 21,596 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ERII. Evercore ISI reduced their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. 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 research report on Tuesday, November 19th. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.33.

Energy Recovery Trading Down 1.7 %

Shares of Energy Recovery stock opened at $15.33 on Wednesday. The company’s 50-day moving average price is $17.75 and its 200-day moving average price is $15.76. The company has a market cap of $887.45 million, a price-to-earnings ratio of 45.09 and a beta of 1.22. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII) last released 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 return on equity of 8.90% and a net margin of 14.35%. The firm 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 posted $0.17 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Energy Recovery, Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In related news, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 2.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Farshad Ghasripoor sold 10,526 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the completion of the sale, the chief technology officer now owns 126,961 shares of the company’s stock, valued at $2,281,489.17. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,406 shares of company stock worth $828,688 over the last three months. 4.10% of the stock is owned by insiders.

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.