Jane Street Group LLC Has $541,000 Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Jane Street Group LLC decreased its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 65.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,089 shares of the industrial products company’s stock after selling 59,314 shares during the period. Jane Street Group LLC owned 0.05% of Energy Recovery worth $541,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ERII. Bank of New York Mellon Corp increased its holdings in shares of Energy Recovery by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 205,786 shares of the industrial products company’s stock valued at $2,735,000 after acquiring an additional 23,660 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Energy Recovery by 12.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 2,398 shares during the period. Van ECK Associates Corp boosted its stake in Energy Recovery by 23.6% during the 2nd quarter. Van ECK Associates Corp now owns 122,783 shares of the industrial products company’s stock valued at $1,632,000 after purchasing an additional 23,449 shares during the period. Rhumbline Advisers boosted its stake in Energy Recovery by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after purchasing an additional 1,893 shares during the period. Finally, Candriam S.C.A. boosted its stake in Energy Recovery by 11.9% during the 2nd quarter. Candriam S.C.A. now owns 121,892 shares of the industrial products company’s stock valued at $1,620,000 after purchasing an additional 12,976 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ERII. Evercore ISI decreased their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, B. Riley reduced their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $20.75.

Insider Activity at Energy Recovery

In other news, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the sale, the senior vice president now directly owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. This trade represents a 4.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now directly owns 743,182 shares of the company’s stock, valued at $12,537,480.34. This trade represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,406 shares of company stock valued at $1,166,088 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Price Performance

Energy Recovery stock opened at $15.06 on Monday. The business has a 50 day simple moving average of $16.55 and a 200 day simple moving average of $16.16. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27. The company has a market capitalization of $871.88 million, a PE ratio of 44.29 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. During the same period last year, the firm posted $0.17 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that Energy Recovery, Inc. will post 0.39 earnings per share for the current fiscal year.

Energy Recovery 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.