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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.75.

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

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 6,505 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the transaction, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following 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. In the last ninety days, insiders have sold 63,406 shares of company stock worth $1,166,088. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CWM LLC increased its holdings in Energy Recovery by 5,032.5% during the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 4,177 shares during the period. Avanza Fonder AB acquired a new position in shares of Energy Recovery during the fourth quarter worth about $107,000. Pinnacle Associates Ltd. purchased a new stake in shares of Energy Recovery during the third quarter worth approximately $193,000. AXA S.A. acquired a new stake in Energy Recovery in the second quarter valued at approximately $149,000. Finally, AQR Capital Management LLC lifted its stake in Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 1,986 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Trading Down 0.8 %

ERII opened at $14.61 on Friday. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a market capitalization of $845.77 million, a PE ratio of 42.97 and a beta of 1.18. The firm’s 50-day moving average price is $15.45 and its 200 day moving average price is $16.33.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business 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 business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $0.17 EPS. As a group, analysts predict that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

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.