Energy Recovery, Inc. (NASDAQ:ERII) Receives $18.88 Consensus PT from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.88.

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. B. Riley downgraded Energy Recovery from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. Finally, Fearnley Fonds raised Energy Recovery from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 20th.

Energy Recovery Trading Down 0.2%

NASDAQ:ERII opened at $12.18 on Thursday. Energy Recovery has a 1-year low of $10.86 and a 1-year high of $20.27. The firm has a fifty day simple moving average of $13.52 and a 200 day simple moving average of $14.68. The stock has a market capitalization of $663.81 million, a PE ratio of 32.92 and a beta of 1.02.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The firm had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. During the same period in the prior year, the business posted ($0.08) earnings per share. Energy Recovery’s quarterly revenue was down 33.1% compared to the same quarter last year. On average, equities analysts predict that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David W. Moon purchased 4,200 shares of Energy Recovery stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the completion of the acquisition, the chief executive officer now owns 36,950 shares in the company, valued at approximately $450,790. This trade represents a 12.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arve Hanstveit sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total value of $380,400.00. Following the completion of the sale, the director now owns 655,220 shares in the company, valued at $8,308,189.60. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Energy Recovery by 99.0% in the 4th quarter. Bank of Montreal Can now owns 49,358 shares of the industrial products company’s stock valued at $726,000 after buying an additional 24,555 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock valued at $6,989,000 after buying an additional 6,834 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Energy Recovery by 9.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,275 shares of the industrial products company’s stock valued at $563,000 after buying an additional 3,364 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Energy Recovery in the 4th quarter valued at $860,000. Finally, Keene & Associates Inc. grew its stake in Energy Recovery by 15.5% in the 4th quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 4,375 shares during the period. 83.58% of the stock is owned by hedge funds and other 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.