Energy Recovery, Inc. $ERII Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 54.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,832 shares of the industrial products company’s stock after selling 43,329 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.07% of Energy Recovery worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of ERII. Wealth Enhancement Advisory Services LLC raised its stake in shares of Energy Recovery by 4.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,984 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 613 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Energy Recovery by 2.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,968 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 1,458 shares during the last quarter. Nordea Investment Management AB raised its position in Energy Recovery by 2.0% in the second quarter. Nordea Investment Management AB now owns 133,592 shares of the industrial products company’s stock valued at $1,721,000 after purchasing an additional 2,558 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Energy Recovery by 11.0% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,461 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Magnetar Financial LLC lifted its stake in Energy Recovery by 19.2% during the second quarter. Magnetar Financial LLC now owns 16,762 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 2,699 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Price Performance

ERII opened at $14.81 on Wednesday. The business has a fifty day moving average price of $14.29 and a 200 day moving average price of $14.70. Energy Recovery, Inc. has a 12 month low of $10.86 and a 12 month high of $18.32. The stock has a market capitalization of $784.49 million, a price-to-earnings ratio of 43.56 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%.The company had revenue of $32.00 million for the quarter, compared to analyst estimates of $29.94 million. On average, research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insider Activity

In other news, insider William Yeung sold 7,271 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $14.55, for a total value of $105,793.05. Following the completion of the transaction, the insider owned 90,098 shares in the company, valued at approximately $1,310,925.90. This represents a 7.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arve Hanstveit sold 15,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $14.97, for a total transaction of $224,550.00. Following the completion of the transaction, the director directly owned 640,220 shares in the company, valued at $9,584,093.40. This trade represents a 2.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,000 shares of company stock worth $340,884 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

ERII has been the subject of a number of research reports. B. Riley reaffirmed a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. Loop Capital set a $18.20 target price on Energy Recovery in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Recovery in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.07.

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.