Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Recommendation of “Hold” from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has been given an average rating of “Hold” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $15.00.

ERII has been the topic of a number of recent analyst reports. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings cut Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Seaport Research Partners restated a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday, May 13th. Finally, Northcoast Research lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th.

Insider Transactions at Energy Recovery

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

Institutional Trading of Energy Recovery

Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of Energy Recovery by 167.4% in the fourth quarter. GSA Capital Partners LLP now owns 109,307 shares of the industrial products company’s stock worth $1,475,000 after buying an additional 68,431 shares during the period. SG Americas Securities LLC raised its position in Energy Recovery by 124.7% during the first quarter. SG Americas Securities LLC now owns 364,337 shares of the industrial products company’s stock valued at $3,669,000 after buying an additional 202,221 shares during the period. Vanguard Group Inc. raised its position in Energy Recovery by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after buying an additional 89,696 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Energy Recovery by 47.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock worth $5,177,000 after acquiring an additional 165,915 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new stake in Energy Recovery in the 4th quarter worth about $1,498,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Stock Performance

NASDAQ ERII opened at $8.65 on Monday. Energy Recovery has a 1 year low of $7.83 and a 1 year high of $18.32. The business’s fifty day moving average is $8.60 and its two-hundred day moving average is $10.72. The stock has a market capitalization of $445.82 million, a P/E ratio of 22.76 and a beta of 0.91.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The company had revenue of $9.71 million for the quarter, compared to the consensus estimate of $8.37 million. Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%. On average, research analysts forecast that Energy Recovery will post -0.17 earnings per share for the current year.

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.