Energy Recovery, Inc. (NASDAQ:ERII) Position Lowered by Aigen Investment Management LP

Aigen Investment Management LP lowered its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 52.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,044 shares of the industrial products company’s stock after selling 12,003 shares during the quarter. Aigen Investment Management LP’s holdings in Energy Recovery were worth $192,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery during the 2nd quarter valued at about $26,000. CWM LLC increased its stake in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 4,177 shares during the period. AXA S.A. bought a new stake in Energy Recovery during the 2nd quarter valued at $149,000. ProShare Advisors LLC acquired a new position in shares of Energy Recovery during the first quarter valued at $158,000. Finally, AQR Capital Management LLC raised its position in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,986 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII opened at $18.75 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 55.15 and a beta of 1.22. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The company has a 50 day moving average price of $17.78 and a 200 day moving average price of $15.66.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. During the same period in the previous year, the firm posted $0.17 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that Energy Recovery, Inc. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ERII shares. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Insider Buying and Selling at Energy Recovery

In related news, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 19,618 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.00, for a total value of $392,360.00. Following the sale, the senior vice president now owns 114,205 shares of the company’s stock, valued at $2,284,100. The trade was a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is currently owned by corporate insiders.

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.