Energy Recovery, Inc. (ERII) Position Reduced by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY reduced its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,848 shares of the industrial products company’s stock after selling 164 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Energy Recovery were worth $215,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Alambic Investment Management L.P. purchased a new stake in shares of Energy Recovery during the first quarter worth approximately $104,000. Alliancebernstein L.P. boosted its stake 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. Neuberger Berman Group LLC bought a new stake in Energy Recovery during the first quarter worth about $166,000. American International Group Inc. boosted 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 in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in Energy Recovery during the first quarter worth about $215,000. Hedge funds and other institutional investors own 33.71% of the company’s stock.
Energy Recovery, Inc. (NASDAQ:ERII) traded down 1.38% during trading on Wednesday, reaching $6.42. 58,218 shares of the company were exchanged. Energy Recovery, Inc. has a one year low of $6.13 and a one year high of $16.67. The stock has a market capitalization of $343.96 million, a price-to-earnings ratio of 221.38 and a beta of 5.51. The firm’s 50 day moving average price is $7.16 and its 200-day moving average price is $7.94.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ 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 for the quarter, compared to analysts’ expectations of $14.99 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s quarterly revenue was down 7.6% on a year-over-year basis. On average, equities research analysts predict that Energy Recovery, Inc. will post $0.35 earnings per share for the current year.
ERII has been the subject of a number of research reports. FBR & Co set a $16.00 target price on shares of Energy Recovery and gave the stock a “buy” rating in a research note on Monday. Jefferies Group LLC restated a “buy” rating and set a $17.00 target price (down previously from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Energy Recovery presently has an average rating of “Buy” and an average price target of $16.92.
Energy Recovery Company Profile
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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