Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Rating of “Buy” from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received a consensus rating of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.75.

A number of brokerages have commented on ERII. Scotiabank started coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. B. Riley cut their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Evercore ISI decreased their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Energy Recovery Stock Down 2.1 %

NASDAQ ERII opened at $14.86 on Monday. The firm’s 50 day moving average is $16.88 and its 200-day moving average is $16.12. The company has a market capitalization of $860.30 million, a PE ratio of 43.71 and a beta of 1.18. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. As a group, sell-side analysts expect that Energy Recovery will post 0.39 EPS for the current year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the sale, the senior vice president now owns 133,823 shares in the company, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,406 shares of company stock worth $1,166,088 over the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in shares of Energy Recovery in the second quarter worth $26,000. CWM LLC grew its stake in Energy Recovery by 5,032.5% during the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after buying an additional 4,177 shares in the last quarter. AXA S.A. bought a new position in Energy Recovery in the 2nd quarter valued at about $149,000. AQR Capital Management LLC raised its position in shares of Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares in the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Energy Recovery during the 3rd quarter worth approximately $193,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.