Energy Recovery, Inc. (ERII) Position Lowered by Credit Suisse AG
Credit Suisse AG cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 67.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,527 shares of the industrial products company’s stock after selling 45,533 shares during the period. Credit Suisse AG’s holdings in Energy Recovery were worth $179,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ERII. Alambic Investment Management L.P. purchased a new stake in shares of Energy Recovery during the first quarter valued at $104,000. Tudor Investment Corp ET AL purchased a new stake in shares of Energy Recovery during the first quarter valued at $113,000. Alliancebernstein L.P. boosted its position in shares of Energy Recovery by 19.8% during the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock valued at $166,000 after buying an additional 3,300 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Energy Recovery during the first quarter valued at $166,000. Finally, American International Group Inc. boosted its position in shares of Energy Recovery by 7.1% during the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,399 shares during the last quarter. 33.71% of the stock is currently owned by institutional investors.
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Energy Recovery, Inc. (NASDAQ:ERII) traded down 4.28% on Friday, hitting $6.94. The stock had a trading volume of 603,374 shares. The company has a market cap of $371.82 million, a price-to-earnings ratio of 239.31 and a beta of 5.54. Energy Recovery, Inc. has a 52-week low of $6.13 and a 52-week high of $16.67. The company has a 50 day moving average price of $6.83 and a 200-day moving average price of $7.76.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, equities research analysts predict that Energy Recovery, Inc. will post $0.39 earnings per share for the current year.
A number of research firms have weighed in on ERII. Capital One Financial Corporation began coverage on Energy Recovery in a report on Thursday. They issued an “overweight” rating and a $16.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of Energy Recovery in a report on Wednesday, August 9th. FBR & Co set a $16.00 target price on Energy Recovery and gave the company a “buy” rating in a report on Monday, August 28th. JMP Securities began coverage on Energy Recovery in a report on Tuesday. They issued an “outperform” rating and a $12.00 target price on the stock. Finally, Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.19.
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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