Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Rating of “Hold” by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.50.

A number of brokerages have weighed in on ERII. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Seaport Research Partners reiterated a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a report on Wednesday, May 13th. B. Riley Financial cut their target price on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th.

Energy Recovery Trading Down 0.5%

ERII stock opened at $7.90 on Friday. The firm has a 50-day moving average price of $8.50 and a 200-day moving average price of $9.87. Energy Recovery has a 12 month low of $7.51 and a 12 month high of $18.32. The stock has a market capitalization of $407.17 million, a P/E ratio of 28.21 and a beta of 0.91.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.36 million. Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. As a group, equities analysts predict that Energy Recovery will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Colin R. Sabol acquired 11,180 shares of Energy Recovery stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $8.88 per share, with a total value of $99,278.40. Following the completion of the purchase, the director directly owned 55,671 shares in the company, valued at $494,358.48. This trade represents a 25.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the sale, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. The trade was a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP bought a new position in shares of Energy Recovery during the second quarter worth about $302,000. Amundi boosted its holdings in Energy Recovery by 7.0% in the second quarter. Amundi now owns 4,003,535 shares of the industrial products company’s stock valued at $36,094,000 after acquiring an additional 263,226 shares during the last quarter. California State Teachers Retirement System increased its position in Energy Recovery by 1,237.2% during the 2nd quarter. California State Teachers Retirement System now owns 650,189 shares of the industrial products company’s stock valued at $5,865,000 after purchasing an additional 601,565 shares during the period. Raiffeisen Bank International AG increased its position in Energy Recovery by 31.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 460,000 shares of the industrial products company’s stock valued at $4,053,000 after purchasing an additional 110,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Energy Recovery by 2.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 169,005 shares of the industrial products company’s stock worth $1,524,000 after purchasing an additional 3,297 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.