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

Alpha Wave Global LP lifted its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 93.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,171,586 shares of the industrial products company’s stock after purchasing an additional 564,463 shares during the quarter. Energy Recovery accounts for approximately 6.3% of Alpha Wave Global LP’s investment portfolio, making the stock its 5th biggest holding. Alpha Wave Global LP owned 2.02% of Energy Recovery worth $20,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ERII. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery in the 2nd quarter valued at approximately $26,000. CWM LLC lifted its stake in Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 4,177 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Energy Recovery during the 1st quarter worth about $158,000. Pinnacle Associates Ltd. acquired a new position in shares of Energy Recovery during the 3rd quarter worth about $193,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Energy Recovery by 39.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 3,076 shares during the period. 83.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ERII shares. B. Riley cut their price objective 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. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Evercore ISI dropped their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Two investment 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Energy Recovery Stock Down 1.7 %

NASDAQ ERII opened at $15.33 on Wednesday. The firm has a 50-day moving average price of $17.75 and a two-hundred day moving average price of $15.76. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The company has a market capitalization of $887.45 million, a P/E ratio of 45.09 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) 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 business had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts expect that Energy Recovery, Inc. will post 0.41 EPS for the current year.

Insiders Place Their Bets

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares in the company, valued at $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 4,207 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the transaction, the senior vice president now owns 106,367 shares of the company’s stock, valued at approximately $2,133,722.02. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock worth $828,688 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

About Energy Recovery

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.