Energy Recovery, Inc. (NASDAQ:ERII) Given Average Rating of “Buy” by Analysts

Energy Recovery, Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.75.

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

Energy Recovery Stock Up 1.0 %

NASDAQ:ERII opened at $14.56 on Friday. The firm has a 50 day moving average of $15.23 and a 200 day moving average of $16.35. Energy Recovery has a 52 week low of $12.26 and a 52 week high of $20.27. The stock has a market capitalization of $842.88 million, a price-to-earnings ratio of 42.82 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping 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 the consensus estimate of $37.37 million. During the same period in the previous year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts expect that Energy Recovery will post 0.36 EPS for the current year.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 4,207 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the transaction, the senior vice president now owns 106,367 shares of the company’s stock, valued at approximately $2,133,722.02. This represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now owns 743,182 shares in the company, valued at $12,537,480.34. This represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,825 shares of company stock worth $814,152 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Geode Capital Management LLC grew its position in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after purchasing an additional 56,306 shares during the period. KBC Group NV lifted its stake in shares of Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock worth $18,270,000 after buying an additional 4,670 shares in the last quarter. Alpha Wave Global LP grew its stake in Energy Recovery by 93.0% during the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after acquiring an additional 564,463 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Energy Recovery in the 3rd quarter valued at about $15,237,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Energy Recovery by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock valued at $8,150,000 after acquiring an additional 7,440 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

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.