B. Riley Lowers Energy Recovery (NASDAQ:ERII) Price Target to $20.00

Energy Recovery (NASDAQ:ERII) had its target price reduced by B. Riley from $22.00 to $20.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.33.

Energy Recovery Stock Up 1.0 %

ERII opened at $15.65 on Tuesday. The business has a fifty day moving average of $17.78 and a 200 day moving average of $15.70. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The stock has a market cap of $906.04 million, a P/E ratio of 46.03 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Equities analysts anticipate that Energy Recovery will post 0.41 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In related news, CTO Farshad Ghasripoor sold 10,526 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rodney Clemente sold 4,207 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the transaction, the senior vice president now owns 106,367 shares in the company, valued at approximately $2,133,722.02. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,406 shares of company stock valued at $828,688. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Baillie Gifford & Co. purchased a new position in Energy Recovery during the 3rd quarter worth $15,237,000. 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 purchasing an additional 564,463 shares during the last quarter. Millennium Management LLC grew its stake in Energy Recovery by 130.3% during the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after purchasing an additional 201,770 shares during the last quarter. KBC Group NV grew its stake in Energy Recovery by 14.1% during the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after purchasing an additional 153,381 shares during the last quarter. Finally, Roubaix Capital LLC purchased a new stake in Energy Recovery during the 2nd quarter valued at about $1,841,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.