Energy Recovery, Inc. (NASDAQ:ERII) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of Energy Recovery, Inc. (NASDAQ:ERIIFree Report) by 29.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,914 shares of the industrial products company’s stock after purchasing an additional 26,450 shares during the quarter. Assenagon Asset Management S.A. owned about 0.21% of Energy Recovery worth $2,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC increased its stake in Energy Recovery by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 11,393 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 395 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Energy Recovery by 1.4% in the second quarter. MetLife Investment Management LLC now owns 29,505 shares of the industrial products company’s stock worth $825,000 after acquiring an additional 413 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Energy Recovery by 10.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,602 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 417 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Energy Recovery by 79.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,264 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 558 shares during the period. Finally, Advisor Group Holdings Inc. increased its stake in shares of Energy Recovery by 6.9% in the first quarter. Advisor Group Holdings Inc. now owns 8,731 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 561 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Price Performance

NASDAQ:ERII opened at $15.54 on Thursday. The firm has a market capitalization of $887.02 million, a P/E ratio of 42.00 and a beta of 1.27. Energy Recovery, Inc. has a 1-year low of $13.95 and a 1-year high of $30.76. The company’s fifty day moving average price is $15.41 and its 200-day moving average price is $17.55.

Energy Recovery (NASDAQ:ERIIGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $57.19 million for the quarter, compared to analyst estimates of $63.57 million. Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Equities analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI cut their price objective on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th.

Read Our Latest Research Report on ERII

Insider Activity at Energy Recovery

In related news, Director Robert Yu Lang Mao sold 38,025 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the sale, the director now owns 176,112 shares in the company, valued at $2,854,775.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Energy Recovery news, Director Robert Yu Lang Mao sold 38,025 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the transaction, the director now directly owns 176,112 shares of the company’s stock, valued at $2,854,775.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the transaction, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,457 shares of company stock worth $1,519,283. 4.70% of the stock is owned by company insiders.

Energy Recovery Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Recovery (NASDAQ:ERII)

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