AQR Capital Management LLC lowered its position in Energy Recovery, Inc. (NASDAQ:ERII) by 32.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 187,544 shares of the industrial products company’s stock after selling 89,548 shares during the period. AQR Capital Management LLC owned approximately 0.35% of Energy Recovery worth $1,560,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ERII. Alambic Investment Management L.P. bought a new position in Energy Recovery during the first quarter worth about $104,000. Russell Investments Group Ltd. bought a new position in Energy Recovery during the fourth quarter worth about $127,000. Neuberger Berman Group LLC bought a new position in Energy Recovery during the first quarter worth about $166,000. Alliancebernstein L.P. boosted its position in Energy Recovery by 19.8% in the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock worth $166,000 after buying an additional 3,300 shares in the last quarter. Finally, American International Group Inc. raised its stake in Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock worth $176,000 after buying an additional 1,399 shares during the last quarter. Institutional investors and hedge funds own 31.86% of the company’s stock.
Energy Recovery, Inc. (ERII) traded up 0.48% during midday trading on Friday, hitting $6.32. 523,420 shares of the stock were exchanged. The company’s 50 day moving average is $7.65 and its 200-day moving average is $8.22. Energy Recovery, Inc. has a 1-year low of $6.27 and a 1-year high of $16.67. The stock has a market cap of $338.61 million, a PE ratio of 316.00 and a beta of 5.51.
Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The firm had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. During the same period last year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts expect that Energy Recovery, Inc. will post $0.53 earnings per share for the current year.
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A number of research firms have weighed in on ERII. Jefferies Group LLC reissued a “buy” rating and set a $17.00 target price (down from $20.00) on shares of Energy Recovery in a report on Wednesday. BidaskClub lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.92.
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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