Fox Run Management L.L.C. Takes $305,000 Position in Energy Recovery, Inc. (NASDAQ:ERII)

Fox Run Management L.L.C. bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 20,728 shares of the industrial products company’s stock, valued at approximately $305,000.

A number of other hedge funds have also made changes to their positions in ERII. Manchester Capital Management LLC grew its stake in Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after buying an additional 830 shares during the last quarter. Nordea Investment Management AB grew its position in Energy Recovery by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock worth $1,859,000 after acquiring an additional 1,618 shares during the last quarter. Van ECK Associates Corp increased its holdings in Energy Recovery by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock valued at $1,440,000 after purchasing an additional 1,808 shares in the last quarter. HighTower Advisors LLC raised its position in Energy Recovery by 10.6% in the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 3,176 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Energy Recovery by 14.8% in the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 3,594 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

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

Energy Recovery Trading Down 2.2 %

Shares of NASDAQ:ERII opened at $16.18 on Friday. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The stock has a market capitalization of $889.17 million, a P/E ratio of 47.59 and a beta of 1.21. The business has a 50-day moving average price of $15.30 and a two-hundred day moving average price of $16.18.

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