Energy Recovery, Inc. (NASDAQ:ERII) Receives Consensus Recommendation of “Buy” from Analysts

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

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

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $14.86 on Monday. The company has a market cap of $860.30 million, a PE ratio of 43.71 and a beta of 1.18. The firm has a fifty day moving average price of $16.88 and a two-hundred day moving average price of $16.12. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. During the same period in the previous year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Energy Recovery will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other news, 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of Energy Recovery 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 transaction, the director now directly owns 743,182 shares in the company, valued at $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 ninety days, insiders have sold 63,406 shares of company stock valued at $1,166,088. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its position in shares of Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 1,330 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Energy Recovery by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,433 shares during the period. Rhumbline Advisers increased its holdings in Energy Recovery by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery in the 2nd quarter valued at about $26,000. Finally, AQR Capital Management LLC lifted its holdings 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 valued at $159,000 after purchasing an additional 1,986 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

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.