Analysts Set Energy Recovery, Inc. (ERII) Price Target at $13.00

Energy Recovery, Inc. (NASDAQ:ERII) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.00.

A number of equities analysts recently issued reports on ERII shares. Zacks Investment Research downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 18th. BidaskClub downgraded shares of Energy Recovery from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Seaport Global Securities downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Friday, December 7th. B. Riley reissued a “buy” rating on shares of Energy Recovery in a report on Friday, December 28th. Finally, TheStreet downgraded shares of Energy Recovery from a “b-” rating to a “c+” rating in a report on Friday, December 28th.

In other Energy Recovery news, Director Arve Hanstveit sold 45,708 shares of Energy Recovery stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $9.15, for a total transaction of $418,228.20. Following the transaction, the director now owns 1,113,945 shares of the company’s stock, valued at $10,192,596.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC increased its position in Energy Recovery by 83.7% in the third quarter. Manchester Capital Management LLC now owns 58,063 shares of the industrial products company’s stock worth $520,000 after purchasing an additional 26,450 shares during the last quarter. Alambic Investment Management L.P. bought a new position in Energy Recovery during the third quarter valued at $166,000. Millennium Management LLC bought a new position in Energy Recovery during the second quarter valued at $1,041,000. Dimensional Fund Advisors LP bought a new position in Energy Recovery during the second quarter valued at $250,000. Finally, Alps Advisors Inc. bought a new position in Energy Recovery during the third quarter valued at $476,000. Institutional investors own 33.82% of the company’s stock.

NASDAQ:ERII opened at $7.68 on Friday. The stock has a market cap of $407.20 million, a price-to-earnings ratio of 109.71 and a beta of 5.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.22 and a quick ratio of 3.99. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $10.25.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $22.20 million for the quarter, compared to the consensus estimate of $20.63 million. Energy Recovery had a net margin of 48.60% and a return on equity of 12.63%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Equities research analysts expect that Energy Recovery will post 0.18 earnings per share for the current year.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

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