Jane Street Group LLC Sells 59,314 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Jane Street Group LLC reduced its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 65.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,089 shares of the industrial products company’s stock after selling 59,314 shares during the period. Jane Street Group LLC’s holdings in Energy Recovery were worth $541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ERII. Bank of New York Mellon Corp boosted its position in shares of Energy Recovery by 13.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 205,786 shares of the industrial products company’s stock worth $2,735,000 after purchasing an additional 23,660 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Energy Recovery by 12.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 2,398 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Energy Recovery by 23.6% in the 2nd quarter. Van ECK Associates Corp now owns 122,783 shares of the industrial products company’s stock worth $1,632,000 after purchasing an additional 23,449 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 1,893 shares during the last quarter. Finally, Candriam S.C.A. boosted its position in shares of Energy Recovery by 11.9% in the 2nd quarter. Candriam S.C.A. now owns 121,892 shares of the industrial products company’s stock worth $1,620,000 after purchasing an additional 12,976 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, the senior vice president now owns 133,823 shares of the company’s stock, valued at $2,406,137.54. The trade was a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now directly owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,406 shares of company stock valued at $1,166,088 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $15.06 on Monday. The firm has a market cap of $871.88 million, a price-to-earnings ratio of 44.29 and a beta of 1.18. The stock’s 50-day moving average is $16.55 and its 200-day moving average is $16.16. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, equities analysts expect that Energy Recovery, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ERII shares. Scotiabank started coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. B. Riley reduced their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Evercore ISI reduced their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.75.

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.