EntryPoint Capital LLC Takes $579,000 Position in Energy Recovery, Inc. (NASDAQ:ERII)

EntryPoint Capital LLC purchased a new position in Energy Recovery, Inc. (NASDAQ:ERII) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 39,372 shares of the industrial products company’s stock, valued at approximately $579,000. EntryPoint Capital LLC owned 0.07% of Energy Recovery as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after purchasing an additional 56,306 shares during the period. Barclays PLC raised its stake in Energy Recovery by 376.6% in the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after buying an additional 76,393 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Energy Recovery by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock worth $4,780,000 after buying an additional 109,847 shares during the period. Alpha Wave Global LP boosted its position in Energy Recovery by 93.0% during the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after acquiring an additional 564,463 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Energy Recovery by 552.4% during the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock valued at $1,563,000 after acquiring an additional 90,008 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Trading Up 4.5 %

Energy Recovery stock opened at $16.83 on Tuesday. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The company has a market capitalization of $924.89 million, a price-to-earnings ratio of 49.50 and a beta of 1.21. The business’s fifty day simple moving average is $15.17 and its two-hundred day simple moving average is $16.16.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. On average, equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now directly owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ERII. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Energy Recovery currently has an average rating of “Buy” and an average target price of $20.75.

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.