Squarepoint Ops LLC Boosts Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Squarepoint Ops LLC grew its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 18.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,322 shares of the industrial products company’s stock after purchasing an additional 36,309 shares during the period. Squarepoint Ops LLC owned approximately 0.42% of Energy Recovery worth $3,167,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sentry Investment Management LLC boosted its stake in Energy Recovery by 23.2% during the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock valued at $120,000 after buying an additional 1,438 shares during the period. Rhumbline Advisers raised its holdings in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after acquiring an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery during the 2nd quarter valued at about $26,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Energy Recovery by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,756 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 2,018 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Energy Recovery by 12.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 2,398 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Trading Down 1.6 %

Shares of NASDAQ ERII opened at $17.11 on Wednesday. The stock’s 50-day moving average is $16.36 and its 200 day moving average is $14.80. The stock has a market cap of $980.92 million, a price-to-earnings ratio of 50.50 and a beta of 1.22. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $21.32.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.10. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. The firm had revenue of $27.20 million for the quarter, compared to the consensus estimate of $23.36 million. On average, analysts forecast that Energy Recovery, Inc. will post 0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ERII shares. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James raised shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Tuesday, July 9th.

Insiders Place Their Bets

In other news, insider William Yeung sold 2,012 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the transaction, the insider now directly owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO David W. Moon purchased 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the acquisition, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Yeung sold 2,012 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $29,435.56. Following the sale, the insider now directly owns 85,291 shares of the company’s stock, valued at approximately $1,247,807.33. The disclosure for this sale can be found here. Insiders sold 8,444 shares of company stock valued at $123,536 over the last three months. Insiders own 4.10% of the company’s stock.

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.