Energy Recovery (NASDAQ:ERII) Rating Increased to Buy at StockNews.com

Energy Recovery (NASDAQ:ERII) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently issued reports on ERII. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank initiated coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Performance

Shares of ERII stock opened at $15.95 on Friday. The firm has a market capitalization of $876.53 million, a price-to-earnings ratio of 46.91 and a beta of 1.21. The stock’s 50-day simple moving average is $15.33 and its 200-day simple moving average is $16.19. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities analysts forecast that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 21,444 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Recovery

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Energy Recovery by 24.6% in the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock valued at $72,823,000 after buying an additional 978,490 shares during the last quarter. Vanguard Group Inc. increased its holdings in Energy Recovery by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock valued at $47,810,000 after buying an additional 43,290 shares in the last quarter. Geode Capital Management LLC increased its stake in Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after purchasing an additional 56,306 shares in the last quarter. KBC Group NV raised its stake in shares of Energy Recovery by 0.4% during the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock worth $18,270,000 after buying an additional 4,670 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in Energy Recovery by 27.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after acquiring an additional 243,653 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

About Energy Recovery

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.