Renaissance Technologies LLC boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 2,594.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 441,900 shares of the industrial products company’s stock after buying an additional 425,500 shares during the period. Renaissance Technologies LLC’s holdings in Energy Recovery were worth $3,677,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of ERII. Sandia Holdings LLC boosted its stake in Energy Recovery by 24.6% in the first quarter. Sandia Holdings LLC now owns 684,557 shares of the industrial products company’s stock valued at $5,696,000 after buying an additional 135,317 shares in the last quarter. State Street Corp boosted its stake in Energy Recovery by 3.6% in the fourth quarter. State Street Corp now owns 538,206 shares of the industrial products company’s stock valued at $5,569,000 after buying an additional 18,626 shares in the last quarter. Geode Capital Management LLC boosted its stake in Energy Recovery by 4.7% in the first quarter. Geode Capital Management LLC now owns 278,561 shares of the industrial products company’s stock valued at $2,317,000 after buying an additional 12,408 shares in the last quarter. KBC Group NV boosted its stake in Energy Recovery by 8.5% in the first quarter. KBC Group NV now owns 259,464 shares of the industrial products company’s stock valued at $2,159,000 after buying an additional 20,386 shares in the last quarter. Finally, Arosa Capital Management LP purchased a new stake in Energy Recovery during the first quarter valued at about $2,080,000. Institutional investors and hedge funds own 31.86% of the company’s stock.
Energy Recovery, Inc. (ERII) traded down 0.76% during mid-day trading on Thursday, hitting $6.53. 51,066 shares of the stock traded hands. The company’s 50 day moving average is $7.72 and its 200 day moving average is $8.26. The company has a market cap of $349.85 million, a P/E ratio of 225.17 and a beta of 5.51. Energy Recovery, Inc. has a 12 month low of $6.43 and a 12 month high of $16.67.
Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The firm had revenue of $12.20 million for the quarter, compared to the consensus estimate of $14.99 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts expect that Energy Recovery, Inc. will post $0.73 earnings per share for the current fiscal year.
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ERII has been the topic of several recent analyst reports. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Monday, May 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Energy Recovery in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.92.
Energy Recovery Company Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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