Manchester Capital Management LLC reduced its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 45.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,613 shares of the industrial products company’s stock after selling 26,450 shares during the quarter. Manchester Capital Management LLC’s holdings in Energy Recovery were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ETF Managers Group LLC increased its position in shares of Energy Recovery by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2,163 shares during the period. Rhumbline Advisers increased its position in shares of Energy Recovery by 46.0% during the fourth quarter. Rhumbline Advisers now owns 47,105 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 14,838 shares during the period. NJ State Employees Deferred Compensation Plan increased its position in shares of Energy Recovery by 13.8% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 91,000 shares of the industrial products company’s stock valued at $612,000 after purchasing an additional 11,000 shares during the period. Bank of Montreal Can increased its position in shares of Energy Recovery by 6,958.2% during the fourth quarter. Bank of Montreal Can now owns 17,575 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 17,326 shares during the period. Finally, Vanguard Group Inc increased its position in shares of Energy Recovery by 1.2% during the third quarter. Vanguard Group Inc now owns 1,659,431 shares of the industrial products company’s stock valued at $14,852,000 after purchasing an additional 19,408 shares during the period. Institutional investors and hedge funds own 33.77% of the company’s stock.

Energy Recovery stock opened at $7.83 on Monday. The company has a current ratio of 4.22, a quick ratio of 3.99 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $421.72 million, a price-to-earnings ratio of 111.86 and a beta of 4.74. Energy Recovery, Inc. has a 52 week low of $6.17 and a 52 week high of $10.25.

A number of brokerages have weighed in on ERII. BidaskClub upgraded Energy Recovery from a “strong sell” rating to a “sell” rating in a research report on Monday, January 7th. B. Riley reiterated a “buy” rating on shares of Energy Recovery in a research report on Friday, December 28th. Seaport Global Securities cut Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Friday, December 7th. TheStreet cut Energy Recovery from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Finally, ValuEngine cut Energy Recovery from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Energy Recovery presently has a consensus rating of “Hold” and a consensus target price of $14.33.

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About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

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Institutional Ownership by Quarter for Energy Recovery (NASDAQ:ERII)

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