According to the latest Form 13F filed by the company with the Securities and Exchange Commission, (SEC), the stock price of the industrial products company increased by 0.1% during the fourth quarter. After purchasing 2,222 additional shares, the firm now owns 1,723,386 of the industrial product company's stock. Energy Recovery is the 12th largest investment in Avenir Corp, and makes up approximately 3.5% of its portfolio. Avenir Corp held about 3.08% in Energy Recovery, worth $35.312,000 at its latest SEC filing.
Other institutional investors and hedge funds have also made recent changes to their holdings in the company. Belpointe Asset Management LLC purchased a new stake in Energy Recovery shares during the fourth-quarter valued at $35,000 Lazard Asset Management LLC purchased a stake in Energy Recovery shares during the first quarter, valued at approximately $49,000. Royal Bank of Canada increased its stake in Energy Recovery in the third quarter by 64.3%. Royal Bank of Canada owns 2,927 of the industrial products firm's shares valued at $65,000, after purchasing an additional 1,145 in the last quarter. Tower Research Capital LLC TRC increased its Energy Recovery position by 167.9% during the third quarter. Tower Research Capital LLC TRC owns 6,036 of the industrial product company's shares valued at $131,000, after purchasing an additional 3,783 in the last quarter. Quantbot Technologies LLC bought a position in Energy Recovery during the second quarter, valued at approximately $125,000. Several brokerages have recently published reports on ERII. In a research note published on Thursday 18th May, Energy Recovery shares were covered. The company was given a rating of 'hold'. Raymond James raised their price target on Energy Recovery shares from $23.00 up to $26.00 in a report published on Wednesday, 4th April. They also gave the company a 'outperform rating'. Two analysts gave the company a hold rating, and two others gave it a buy rating. MarketBeat.com data shows that Energy Recovery's consensus rating is 'Moderate buy' with a consensus price target of $27.00.
Energy Recovery: Insiders' Buying and selling
In a deal dated April 3, 2016, 16,000 shares were sold. The shares were purchased at an average of $23.50 for a transaction totaling $376,000.00. After the completion of this sale, the director owns directly 868,352 of the company's shares, valued at $20,000,406,272. Insiders hold 4.70% the stock of the company.
Energy Recovery Stock Performance
On Monday, the stock fell $0.05 to $26.98. Stocks of the company traded at 318,800 shares compared to their average of 335,737. Energy Recovery, Inc.'s low for the past twelve months is $17.32 while its high is $27.18. The market cap is $1.52 billion. It has a PE of 158.71, and a beta value of 1.20. The company's moving average for the past 50 days is $24.27, and its moving average over the last two hundred days is $22.73.
The company last released its quarterly results on May 3rd. The industrial products company posted ($0.08) per share in earnings for the quarter. This beat analysts' expectations of ($0.12), by $0.04. Energy Recovery's net margin was 9.26%, and its return on equity was 7.54%. Revenue for the quarter was $13,40 million, which is higher than the $13,04 million consensus estimate. In the same quarter of the previous year, the company had earned $0.14 per share. Energy Recovery's revenues were down 58.8% year-over-year. Analysts at Equities Research expect Energy Recovery, Inc. to post 0.46 earnings per share for the current fiscal.
Energy Recovery Profile
Energy Recovery, Inc is engaged in the design and manufacturing of industrial fluid flow systems. The company operates under the Water and Emerging Technologies division. The Water segment is responsible for the development, sale, and support of PX, turbochargers, and pumps that are used in industrial wastewater and seawater desalination activities.
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