Energy Recovery, Inc. (NASDAQ:ERII) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 66.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 274,893 shares of the industrial products company’s stock after acquiring an additional 109,847 shares during the quarter. JPMorgan Chase & Co.’s holdings in Energy Recovery were worth $4,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in Energy Recovery in the third quarter valued at $15,237,000. Alpha Wave Global LP raised its holdings in Energy Recovery by 93.0% in the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after buying an additional 564,463 shares during the period. Millennium Management LLC lifted its position in Energy Recovery by 130.3% in the second quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after buying an additional 201,770 shares during the last quarter. KBC Group NV boosted its stake in Energy Recovery by 14.1% during the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after buying an additional 153,381 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Energy Recovery by 668.4% during the third quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock valued at $2,522,000 after acquiring an additional 126,148 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ERII shares. Evercore ISI lowered their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. B. Riley dropped their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Scotiabank assumed coverage on Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 target price on the stock. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Energy Recovery presently has an average rating of “Buy” and a consensus target price of $20.75.

Insider Buying and Selling at Energy Recovery

In related news, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the transaction, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This trade represents a 2.62 % decrease in their position. 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. Insiders own 4.10% of the company’s stock.

Energy Recovery Trading Up 2.9 %

NASDAQ:ERII opened at $14.77 on Friday. The stock has a fifty day moving average price of $15.73 and a 200 day moving average price of $16.26. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The firm has a market cap of $855.04 million, a PE ratio of 43.44 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. Equities analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

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.