Evercore ISI Has Lowered Expectations for Energy Recovery (NASDAQ:ERII) Stock Price

Energy Recovery (NASDAQ:ERII) had its target price lowered by Evercore ISI from $23.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s price objective suggests a potential upside of 29.03% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, B. Riley reduced their price objective 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. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Energy Recovery presently has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Energy Recovery Price Performance

NASDAQ:ERII opened at $15.50 on Tuesday. Energy Recovery has a one year low of $12.26 and a one year high of $20.27. The company has a market cap of $897.30 million, a PE ratio of 45.74 and a beta of 1.22. The firm’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $15.70.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company 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%. Energy Recovery’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. Equities research analysts expect that Energy Recovery will post 0.41 EPS for the current year.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ERII. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery during the second quarter valued at approximately $26,000. CWM LLC lifted its holdings in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 4,177 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Energy Recovery during the first quarter valued at approximately $158,000. Pinnacle Associates Ltd. bought a new stake in Energy Recovery during the third quarter worth $193,000. Finally, Lazard Asset Management LLC raised its position in Energy Recovery by 39.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock valued at $171,000 after buying an additional 3,076 shares during the last quarter. 83.58% of the stock is 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.