IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 71,850 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 51.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 69,150 shares of the industrial products company’s stock after selling 71,850 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Energy Recovery were worth $1,017,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after purchasing an additional 56,306 shares in the last quarter. Barclays PLC grew its stake in shares of Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after buying an additional 76,393 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Energy Recovery by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock worth $6,989,000 after buying an additional 6,834 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Energy Recovery by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock valued at $4,780,000 after acquiring an additional 109,847 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Energy Recovery by 552.4% during the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock valued at $1,563,000 after acquiring an additional 90,008 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Scotiabank assumed coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Energy Recovery presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Stock Down 2.2 %

Shares of NASDAQ:ERII opened at $16.18 on Friday. The firm has a market cap of $889.17 million, a P/E ratio of 47.59 and a beta of 1.21. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The business has a fifty day simple moving average of $15.30 and a 200 day simple moving average of $16.18.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

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.