Marshall Wace North America L.P. Has $342,000 Holdings in Energy Recovery, Inc. (ERII)
Marshall Wace North America L.P. grew its position in Energy Recovery, Inc. (NASDAQ:ERII) by 41.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,784 shares of the industrial products company’s stock after acquiring an additional 12,455 shares during the period. Marshall Wace North America L.P. owned about 0.08% of Energy Recovery worth $342,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Alambic Investment Management L.P. acquired a new position in shares of Energy Recovery in the first quarter worth about $104,000. Tudor Investment Corp ET AL acquired a new position in shares of Energy Recovery in the first quarter worth about $113,000. National Planning Corp raised 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 acquiring an additional 3,297 shares during the period. Alliancebernstein L.P. raised its position in shares of 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 acquiring an additional 3,300 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in shares of Energy Recovery in the first quarter worth about $166,000. Institutional investors and hedge funds own 33.71% of the company’s stock.
ERII has been the subject of a number of analyst reports. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th. 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, August 28th. Finally, JMP Securities assumed coverage on shares of Energy Recovery in a research note on Tuesday, September 5th. They set an “outperform” rating and a $12.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.19.
Shares of Energy Recovery, Inc. (NASDAQ ERII) opened at 6.89 on Friday. The stock’s 50 day moving average is $6.74 and its 200-day moving average is $7.71. The stock has a market cap of $369.14 million, a PE ratio of 237.59 and a beta of 5.54. Energy Recovery, Inc. has a 1-year low of $6.13 and a 1-year high of $16.67.
Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The firm had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. During the same quarter last year, the business earned $0.01 earnings per share. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts predict that Energy Recovery, Inc. will post $0.40 EPS for the current fiscal year.
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Energy Recovery 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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