IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 71,850 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 51.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 69,150 shares of the industrial products company’s stock after selling 71,850 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.12% of Energy Recovery worth $1,017,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Avanza Fonder AB bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $107,000. Fox Run Management L.L.C. bought a new stake in Energy Recovery in the 4th quarter valued at $305,000. Intech Investment Management LLC acquired a new stake in Energy Recovery during the 4th quarter valued at $388,000. Inspire Investing LLC boosted its position in Energy Recovery by 14.8% during 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 during the period. Finally, Manchester Capital Management LLC increased its holdings in shares of 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 valued at $429,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Stock Performance

ERII stock opened at $16.18 on Friday. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27. The company has a market capitalization of $889.17 million, a PE ratio of 47.59 and a beta of 1.21. The company’s 50-day simple moving average is $15.30 and its 200 day simple moving average is $16.18.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 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 $67.08 million for the quarter, compared to analyst estimates of $67.39 million. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank initiated coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Energy Recovery has an average rating of “Buy” and an average target price of $20.75.

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $817,000.00. Following the sale, the director now owns 693,182 shares in the company, 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 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.