Y Intercept Hong Kong Ltd Increases Stake in Energy Recovery, Inc. $ERII

Y Intercept Hong Kong Ltd increased its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 183.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,161 shares of the industrial products company’s stock after purchasing an additional 51,276 shares during the period. Y Intercept Hong Kong Ltd owned 0.15% of Energy Recovery worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in shares of Energy Recovery in the first quarter worth $430,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Energy Recovery in the 1st quarter valued at $379,000. XTX Topco Ltd purchased a new position in Energy Recovery in the 1st quarter worth $374,000. Raiffeisen Bank International AG raised its stake in Energy Recovery by 4.3% in the 1st quarter. Raiffeisen Bank International AG now owns 245,000 shares of the industrial products company’s stock worth $3,908,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in Energy Recovery during the 1st quarter worth about $540,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Trading Down 1.8%

Shares of ERII stock opened at $16.81 on Tuesday. The stock has a 50 day moving average of $15.57 and a 200 day moving average of $14.17. The stock has a market cap of $894.26 million, a P/E ratio of 40.02 and a beta of 1.02. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ERII. CJS Securities assumed coverage on Energy Recovery in a report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 price objective on the stock. B. Riley raised their price objective on Energy Recovery from $12.50 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.75.

Insiders Place Their Bets

In related news, insider William Yeung sold 33,554 shares of Energy Recovery stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the completion of the transaction, the insider directly owned 97,369 shares in the company, valued at approximately $1,412,824.19. This trade represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 72,333 shares of company stock worth $1,122,195 in the last three months. 3.20% of the stock is currently owned by company insiders.

Energy Recovery Company Profile

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.