EntryPoint Capital LLC Buys Shares of 39,372 Energy Recovery, Inc. (NASDAQ:ERII)

EntryPoint Capital LLC purchased a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 39,372 shares of the industrial products company’s stock, valued at approximately $579,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manchester Capital Management LLC increased its position in Energy Recovery by 2.9% in 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 in the last quarter. Nordea Investment Management AB grew its stake in shares of 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 valued at $1,859,000 after acquiring an additional 1,618 shares during the period. Van ECK Associates Corp grew its stake in shares of 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 acquiring an additional 1,808 shares during the period. HighTower Advisors LLC increased its holdings 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 worth $578,000 after acquiring an additional 3,176 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Energy Recovery by 14.8% during the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 3,594 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

ERII has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank assumed coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $20.75.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now directly owns 693,182 shares of the company’s stock, valued at $11,326,593.88. The trade was a 6.73 % 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 Stock Performance

Shares of NASDAQ:ERII opened at $16.83 on Tuesday. The firm has a market cap of $924.89 million, a price-to-earnings ratio of 49.50 and a beta of 1.21. The firm has a fifty day moving average price of $15.17 and a 200 day moving average price of $16.16. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 EPS 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 company had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. As a group, research analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share 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.