Swiss National Bank Holds Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Swiss National Bank held its position in Energy Recovery, Inc. (NASDAQ:ERII) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,100 shares of the industrial products company’s stock at the end of the first quarter. Swiss National Bank’s holdings in Energy Recovery were worth $500,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Chicago Equity Partners LLC increased its position in shares of Energy Recovery by 1.5% in the first quarter. Chicago Equity Partners LLC now owns 60,755 shares of the industrial products company’s stock worth $505,000 after buying an additional 910 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Energy Recovery during the first quarter worth approximately $215,000. Manchester Capital Management LLC acquired a new position in shares of Energy Recovery during the first quarter worth approximately $297,000. Highbridge Capital Management LLC increased its position in shares of Energy Recovery by 464.4% in the fourth quarter. Highbridge Capital Management LLC now owns 138,141 shares of the industrial products company’s stock worth $1,430,000 after buying an additional 113,667 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Energy Recovery by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 63,071 shares of the industrial products company’s stock worth $653,000 after buying an additional 9,209 shares in the last quarter. 31.81% of the stock is currently owned by institutional investors.

Energy Recovery, Inc. (NASDAQ ERII) opened at 7.77 on Wednesday. Energy Recovery, Inc. has a one year low of $7.11 and a one year high of $16.67. The firm’s 50-day moving average is $7.93 and its 200 day moving average is $8.58. The firm has a market capitalization of $419.46 million, a price-to-earnings ratio of 165.32 and a beta of 5.54.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. Energy Recovery had a net margin of 4.94% and a return on equity of 4.10%. The business had revenue of $12.26 million during the quarter, compared to analyst estimates of $15.15 million. Analysts forecast that Energy Recovery, Inc. will post $0.68 EPS for the current fiscal year.

Energy Recovery declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 30th that allows the company to repurchase $15.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. FBR & Co reaffirmed an “outperform” rating and set a $16.00 price target on shares of Energy Recovery in a research note on Tuesday, March 28th. Finally, BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.42.

About Energy Recovery

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

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