Aigen Investment Management LP Makes New Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Aigen Investment Management LP bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 28,829 shares of the industrial products company’s stock, valued at approximately $543,000. Aigen Investment Management LP owned approximately 0.05% of Energy Recovery at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ERII. FMR LLC boosted its stake in Energy Recovery by 376.4% in the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after purchasing an additional 3,090,086 shares in the last quarter. Vanguard Group Inc. boosted its stake in Energy Recovery by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,893,124 shares of the industrial products company’s stock worth $61,363,000 after purchasing an additional 41,967 shares in the last quarter. Avenir Corp boosted its stake in Energy Recovery by 3.9% in the 3rd quarter. Avenir Corp now owns 1,780,540 shares of the industrial products company’s stock worth $37,765,000 after purchasing an additional 67,184 shares in the last quarter. Invesco Ltd. boosted its stake in Energy Recovery by 4.6% in the 3rd quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock worth $18,905,000 after purchasing an additional 39,310 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Energy Recovery by 33.0% during the 4th quarter. New York State Common Retirement Fund now owns 745,853 shares of the industrial products company’s stock worth $14,052,000 after buying an additional 185,163 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO David W. Moon acquired 10,750 shares of Energy Recovery stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the acquisition, the chief executive officer now owns 19,250 shares in the company, valued at $298,567.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David W. Moon bought 10,750 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the completion of the purchase, the chief executive officer now owns 19,250 shares of the company’s stock, valued at $298,567.50. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the transaction, the director now directly owns 807,055 shares of the company’s stock, valued at $12,501,281.95. The disclosure for this sale can be found here. Insiders have sold a total of 125,807 shares of company stock valued at $1,906,110 in the last 90 days. 4.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ERII. Evercore ISI reduced their price target on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. StockNews.com lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd.

Energy Recovery Stock Down 2.7 %

Shares of NASDAQ:ERII traded down $0.37 during trading on Thursday, hitting $13.54. 10,443 shares of the stock traded hands, compared to its average volume of 445,764. The company has a market cap of $776.25 million, a price-to-earnings ratio of 40.91 and a beta of 1.26. The company has a fifty day moving average price of $14.44 and a two-hundred day moving average price of $16.30. Energy Recovery, Inc. has a 52-week low of $12.45 and a 52-week high of $30.76.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The firm had revenue of $12.09 million during the quarter, compared to analyst estimates of $12.49 million. On average, equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Energy Recovery Company 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.