Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) Price Target at $20.75

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received a consensus rating of “Buy” from the six research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.75.

Several equities research analysts have recently commented on ERII shares. B. Riley decreased their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Evercore ISI lowered their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock.

Insider Activity at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of the business’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 transaction, the senior vice president now directly owns 106,367 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the sale, the director now owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,406 shares of company stock valued at $1,166,088. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in shares of Energy Recovery during the 2nd quarter valued at $26,000. CWM LLC lifted its holdings in Energy Recovery by 5,032.5% during 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 during the last quarter. Pinnacle Associates Ltd. bought a new position in Energy Recovery during the third quarter worth about $193,000. AXA S.A. purchased a new position in shares of Energy Recovery in the second quarter worth about $149,000. Finally, AQR Capital Management LLC increased its stake in shares of 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 purchasing an additional 1,986 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII opened at $14.70 on Monday. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The business’s 50 day simple moving average is $16.67 and its two-hundred day simple moving average is $16.13. The firm has a market cap of $851.04 million, a P/E ratio of 43.24 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $37.37 million. During the same period last year, the business earned $0.17 EPS. Energy Recovery’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Energy Recovery will post 0.39 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.