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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $18.88.

A number of research firms recently commented on ERII. StockNews.com downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. B. Riley downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $12.50 in a research report on Thursday, May 8th.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. The trade was a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Moon bought 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average cost of $12.20 per share, with a total value of $51,240.00. Following the purchase, the chief executive officer now directly owns 36,950 shares in the company, valued at $450,790. The trade was a 12.82% increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Energy Recovery by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company’s stock worth $81,657,000 after buying an additional 184,942 shares in the last quarter. Vanguard Group Inc. boosted its position in Energy Recovery by 7.5% during the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock worth $55,534,000 after acquiring an additional 242,494 shares during the last quarter. KBC Group NV lifted its stake in shares of Energy Recovery by 0.4% during the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock worth $18,270,000 after purchasing an additional 4,670 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after purchasing an additional 243,653 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Energy Recovery by 14.4% during the 4th quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company’s stock worth $12,617,000 after purchasing an additional 107,800 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Price Performance

ERII opened at $12.91 on Friday. The business has a 50 day simple moving average of $14.86 and a 200-day simple moving average of $15.37. The stock has a market capitalization of $703.58 million, a P/E ratio of 37.97 and a beta of 1.09. Energy Recovery has a 12 month low of $10.86 and a 12 month high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). The business had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s revenue was down 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. Research analysts anticipate that Energy Recovery will post 0.36 EPS for the current year.

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.