Cubist Systematic Strategies LLC Lowers Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Cubist Systematic Strategies LLC lowered its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 74.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,990 shares of the industrial products company’s stock after selling 48,434 shares during the period. Cubist Systematic Strategies LLC’s holdings in Energy Recovery were worth $387,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its stake in Energy Recovery by 100.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,000 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 1,000 shares in the last quarter. Founders Capital Management increased its holdings in Energy Recovery by 76.9% during the 2nd quarter. Founders Capital Management now owns 2,300 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 1,000 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Energy Recovery during the 2nd quarter worth about $55,000. Lazard Asset Management LLC purchased a new stake in Energy Recovery during the 2nd quarter worth about $60,000. Finally, Royal Bank of Canada purchased a new stake in Energy Recovery during the 1st quarter worth about $84,000. 59.74% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Sherif Foda sold 5,595 shares of the stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $21.59, for a total transaction of $120,796.05. Following the completion of the transaction, the director now directly owns 10,407 shares of the company’s stock, valued at approximately $224,687.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arve Hanstveit sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $24.61, for a total value of $615,250.00. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on ERII shares. TheStreet cut Energy Recovery from a “b” rating to a “c” rating in a research report on Friday, August 6th. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Monday, November 8th.

Energy Recovery stock opened at $22.53 on Thursday. Energy Recovery, Inc. has a twelve month low of $10.62 and a twelve month high of $24.99. The stock has a 50 day moving average of $20.60 and a two-hundred day moving average of $20.29. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 102.41 and a beta of 1.20.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Thursday, November 4th. The industrial products company reported $0.02 earnings per share for the quarter. Energy Recovery had a return on equity of 6.97% and a net margin of 12.88%. The company had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $20.80 million. During the same period last year, the firm earned $0.10 EPS. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.26 EPS for the current year.

Energy Recovery Company Profile

Energy Recovery, Inc engages in the design and manufacture of industrial fluid flow solutions. It operates through the Water, and Oil and Gas segments. The Water segment in sea, brackish, and contaminated water reverse osmosis desalination solutions. The Oil and Gas segment delivers hydraulic fracturing, gas processing, and chemical processing services.

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

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