Energy Recovery (NASDAQ:ERII) Price Target Cut to $20.00 by Analysts at B. Riley

Energy Recovery (NASDAQ:ERII) had its price objective reduced by investment analysts at B. Riley from $22.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. B. Riley’s price target indicates a potential upside of 29.03% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Energy Recovery currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

Energy Recovery Trading Up 1.0 %

Shares of NASDAQ ERII opened at $15.50 on Tuesday. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a 50-day moving average of $17.78 and a two-hundred day moving average of $15.70. The company has a market capitalization of $897.30 million, a price-to-earnings ratio of 45.74 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts predict that Energy Recovery will post 0.41 earnings per share for the current year.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 4,207 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.06, for a total value of $84,392.42. Following the sale, the senior vice president now owns 106,367 shares of the company’s stock, valued at $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares in the company, valued at $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,406 shares of company stock worth $828,688. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently modified their holdings of ERII. State Board of Administration of Florida Retirement System boosted its stake in shares of Energy Recovery by 391.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock valued at $1,235,000 after purchasing an additional 62,287 shares during the last quarter. KBC Group NV raised its position in shares of Energy Recovery by 14.1% during the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after purchasing an additional 153,381 shares during the period. Federated Hermes Inc. bought a new position in Energy Recovery in the second quarter valued at approximately $472,000. Baillie Gifford & Co. bought a new position in shares of Energy Recovery during the third quarter worth about $15,237,000. Finally, Summit Global Investments acquired a new position in Energy Recovery during the third quarter worth $939,000. 83.58% of the stock is owned by institutional investors.

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.