Barclays PLC Has $1.68 Million Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Barclays PLC increased its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 376.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 96,677 shares of the industrial products company’s stock after purchasing an additional 76,393 shares during the quarter. Barclays PLC’s holdings in Energy Recovery were worth $1,681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hantz Financial Services Inc. acquired a new stake in Energy Recovery in the 2nd quarter valued at $26,000. CWM LLC grew its holdings in shares of Energy Recovery by 5,032.5% during the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after buying an additional 4,177 shares during the last quarter. AXA S.A. acquired a new position in shares of Energy Recovery during the second quarter valued at about $149,000. AQR Capital Management LLC raised its stake in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Energy Recovery during the 3rd quarter valued at $193,000. Institutional investors own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

ERII has been the topic of several research analyst reports. Evercore ISI cut their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. B. Riley cut their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Scotiabank initiated 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 on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Energy Recovery currently has a consensus rating of “Buy” and an average target price of $20.75.

Insider Activity at Energy Recovery

In other news, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. The trade was a 2.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. This represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,406 shares of company stock valued at $1,166,088. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $14.86 on Friday. The company’s fifty day moving average price is $16.88 and its 200-day moving average price is $16.08. The firm has a market capitalization of $860.30 million, a price-to-earnings ratio of 43.71 and a beta of 1.18. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Energy Recovery, Inc. will post 0.39 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.