Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.33 Average Target Price from Brokerages

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

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

Insider Activity at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 19,618 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.00, for a total transaction of $392,360.00. Following the sale, the senior vice president now owns 114,205 shares of the company’s stock, valued at approximately $2,284,100. This trade represents a 14.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,406 shares of company stock worth $828,688 over the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Energy Recovery

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. purchased a new position in shares of Energy Recovery in the 2nd quarter valued at approximately $26,000. CWM LLC raised 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 worth $74,000 after buying an additional 4,177 shares during the last quarter. AXA S.A. purchased a new position in shares of Energy Recovery in the second quarter worth $149,000. AQR Capital Management LLC lifted its stake in shares of Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,986 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Energy Recovery during the third quarter valued at $193,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Price Performance

ERII opened at $16.26 on Thursday. The stock’s 50 day simple moving average is $17.55 and its 200 day simple moving average is $15.86. The firm has a market cap of $941.29 million, a price-to-earnings ratio of 47.82 and a beta of 1.18. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued 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 firm had revenue of $38.60 million during 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 for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, sell-side analysts anticipate that Energy Recovery will post 0.41 EPS for the current year.

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.