Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 61.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,328 shares of the industrial products company’s stock after selling 130,214 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.14% of Energy Recovery worth $1,094,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brown Capital Management LLC grew its holdings in Energy Recovery by 64.7% during the fourth quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock worth $82,085,000 after acquiring an additional 1,711,129 shares during the period. Vanguard Group Inc. grew its holdings in Energy Recovery by 1.8% during the first quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after acquiring an additional 53,720 shares during the period. Robeco Schweiz AG grew its holdings in Energy Recovery by 21.2% during the fourth quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company’s stock worth $11,648,000 after acquiring an additional 108,130 shares during the period. Raymond James & Associates grew its holdings in Energy Recovery by 15.0% during the second quarter. Raymond James & Associates now owns 409,623 shares of the industrial products company’s stock worth $5,444,000 after acquiring an additional 53,330 shares during the period. Finally, Anchor Capital Management Company LLC grew its holdings in Energy Recovery by 39.1% in the first quarter. Anchor Capital Management Company LLC now owns 355,500 shares of the industrial products company’s stock valued at $5,613,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Insider Activity

In other news, insider William Yeung sold 2,012 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $29,435.56. Following the sale, the insider now directly owns 85,291 shares in the company, valued at $1,247,807.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider William Yeung sold 2,012 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the transaction, the insider now directly owns 85,291 shares in the company, valued at $1,247,807.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Moon bought 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. The disclosure for this purchase can be found here. Insiders have sold 8,444 shares of company stock worth $123,536 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ERII shares. Raymond James raised Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Tuesday, July 9th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

Energy Recovery Stock Performance

Energy Recovery stock opened at $17.31 on Thursday. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $21.20. The stock’s fifty day moving average is $16.40 and its two-hundred day moving average is $14.81. The firm has a market capitalization of $992.38 million, a price-to-earnings ratio of 49.97 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $27.20 million for the quarter, compared to the consensus estimate of $23.36 million. As a group, sell-side analysts forecast that Energy Recovery, Inc. will post 0.37 EPS for the current fiscal 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.