Key Colony Management Exits Position in Energy Recovery (ERII)

Energy Recovery (ERII) : Key Colony Management has sold out all of its stake in Energy Recovery during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 13,500 shares of Energy Recovery which is valued at $171,720.

Other Hedge Funds, Including , Menta Capital boosted its stake in ERII in the latest quarter, The investment management firm added 60,624 additional shares and now holds a total of 70,960 shares of Energy Recovery which is valued at $902,611. Energy Recovery makes up approx 0.12% of Menta Capital’s portfolio. Ubs Asset Management Americas Inc added ERII to its portfolio by purchasing 19,100 company shares during the most recent quarter which is valued at $247,918.Moors Cabot reduced its stake in ERII by selling 3,000 shares or 9.38% in the most recent quarter. The Hedge Fund company now holds 29,000 shares of ERII which is valued at $376,420. Energy Recovery makes up approx 0.06% of Moors Cabot’s portfolio. Sg Americas Securities sold out all of its stake in ERII during the most recent quarter. The investment firm sold 17,400 shares of ERII which is valued $179,046.

Energy Recovery opened for trading at $12.28 and hit $12.49 on the upside on Monday, eventually ending the session at $12.32, with a gain of 0.08% or 0.01 points. The heightened volatility saw the trading volume jump to 2,40,390 shares. Company has a market cap of $641 M.

On the company’s financial health, Energy Recovery reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.04. The company had revenue of $13.20 million for the quarter, compared to analysts expectations of $10.12 million. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Energy Recovery. Company shares were Reiterated by FBR Capital on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .FBR Capital Initiated Energy Recovery on Jul 15, 2016 to “Outperform”, Price Target of the shares are set at $14.

Energy Recovery Inc. (Energy Recovery) is engaged in providing pressure energy technology for industrial fluid flow applications. The Company designs develops and manufactures energy recovery devices that transform untapped energy into reusable energy from industrial fluid flows and pressure cycles. The Company’s energy recovery devices are primarily used in seawater reverse osmosis desalination. The Company also provides pumps to facilitate a packaged solution to its customers. Its products are marketed and sold in fluid flow markets such as desalination and oil and gas under the trademarks ERI PX Pressure Exchanger and PX Pressure Exchanger. The Company also provides engineering technical support and training to customers during product installation and plant commissioning. Additionally it offers preventive maintenance and support services as well as reinstallation services.

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