Dynamic Technology Lab Private Ltd Takes Position in Energy Recovery, Inc. (NASDAQ:ERII)

Dynamic Technology Lab Private Ltd acquired a new position in Energy Recovery, Inc. (NASDAQ:ERII) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,924 shares of the industrial products company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new position in shares of Energy Recovery in the 4th quarter valued at about $107,000. Schroder Investment Management Group acquired a new position in Energy Recovery in the fourth quarter valued at approximately $160,000. Martin Currie Ltd. boosted its stake in Energy Recovery by 53.7% in the fourth quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 6,394 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Energy Recovery during the 4th quarter worth $305,000. Finally, Intech Investment Management LLC bought a new stake in shares of Energy Recovery during the 4th quarter valued at $388,000. 83.58% of the stock is owned by institutional investors.

Energy Recovery Stock Performance

Shares of ERII opened at $14.60 on Friday. The firm has a market cap of $802.34 million, a P/E ratio of 42.94 and a beta of 1.05. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The firm’s 50 day moving average price is $15.43 and its two-hundred day moving average price is $16.08.

Energy Recovery (NASDAQ:ERII) last posted 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). The company had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. On average, sell-side analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Rodney Clemente sold 21,444 shares of the firm’s stock in a transaction that occurred 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 directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the business’s 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 sale, the director now directly owns 693,182 shares in the company, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $20.75.

About Energy Recovery

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.