Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Rating of “Buy” by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.75.

Several equities research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective for the company. StockNews.com raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a report on Saturday, March 29th. Finally, Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th.

Insider Transactions at Energy Recovery

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

Institutional Trading of Energy Recovery

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avanza Fonder AB bought a new stake in shares of Energy Recovery in the 4th quarter valued at about $107,000. Schroder Investment Management Group bought a new stake in Energy Recovery in the fourth quarter valued at approximately $160,000. Nebula Research & Development LLC increased its position in Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares during the period. Polymer Capital Management US LLC bought a new position in Energy Recovery during the 4th quarter worth approximately $211,000. Finally, Two Sigma Investments LP acquired a new position in shares of Energy Recovery in the 4th quarter worth approximately $229,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Trading Up 0.8 %

Shares of ERII opened at $15.97 on Friday. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The firm’s 50 day moving average is $15.39 and its 200-day moving average is $16.20. The stock has a market capitalization of $877.63 million, a PE ratio of 46.97 and a beta of 1.05.

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

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.