Rubric Capital Management LP bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 645,190 shares of the industrial products company’s stock, valued at approximately $5,349,000.

Several other institutional investors have also made changes to their positions in the stock. Alambic Investment Management L.P. acquired a new position in shares of Energy Recovery during the first quarter worth approximately $104,000. Tudor Investment Corp ET AL acquired a new position in shares of Energy Recovery during the first quarter worth approximately $113,000. Russell Investments Group Ltd. acquired a new position in shares of Energy Recovery during the fourth quarter worth approximately $127,000. National Planning Corp increased its position in shares of Energy Recovery by 21.3% in the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock worth $157,000 after buying an additional 3,297 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Energy Recovery during the first quarter worth approximately $166,000. Institutional investors own 31.86% of the company’s stock.

Energy Recovery, Inc. (NASDAQ ERII) opened at 6.32 on Friday. The company has a market cap of $338.60 million, a P/E ratio of 217.93 and a beta of 5.51. Energy Recovery, Inc. has a 12-month low of $6.27 and a 12-month high of $16.67. The firm has a 50-day moving average price of $7.65 and a 200-day moving average price of $8.22.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The business had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Energy Recovery, Inc. will post $0.53 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on ERII shares. 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 report on Wednesday. Zacks Investment Research upgraded Energy Recovery from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Monday, May 1st. Finally, BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.92.

About Energy Recovery

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

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