B. Riley Lowers Energy Recovery (NASDAQ:ERII) Price Target to $20.00

Energy Recovery (NASDAQ:ERII) had its price objective trimmed by B. Riley from $22.00 to $20.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

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

Energy Recovery Trading Up 1.1 %

Shares of ERII stock opened at $15.80 on Tuesday. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The stock has a market cap of $914.73 million, a P/E ratio of 46.03 and a beta of 1.22. The company has a 50 day simple moving average of $17.78 and a two-hundred day simple moving average of $15.70.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that Energy Recovery will post 0.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Rodney Clemente sold 4,207 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the transaction, the senior vice president now owns 106,367 shares in the company, valued at approximately $2,133,722.02. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Farshad Ghasripoor sold 10,526 shares of the company’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 $189,152.22. Following the transaction, the chief technology officer now owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,406 shares of company stock worth $828,688 over the last three months. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new position in shares of Energy Recovery during the second quarter worth $26,000. CWM LLC lifted its position 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. ProShare Advisors LLC bought a new position in Energy Recovery during the first quarter valued at $158,000. Pinnacle Associates Ltd. bought a new position in Energy Recovery during the third quarter valued at $193,000. Finally, Lazard Asset Management LLC lifted its position in Energy Recovery by 39.6% during the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 3,076 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

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.