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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.75.

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

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 4,207 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the sale, the senior vice president now owns 106,367 shares of the company’s stock, valued at $2,133,722.02. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,406 shares of company stock worth $1,166,088. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

Several institutional investors and hedge funds have recently made changes to their positions in ERII. Geode Capital Management LLC lifted its stake in 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 buying an additional 56,306 shares during the last quarter. KBC Group NV raised its position in Energy Recovery by 14.1% in 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. Alpha Wave Global LP boosted 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 worth $20,374,000 after purchasing an additional 564,463 shares during the period. Baillie Gifford & Co. purchased a new position in Energy Recovery during the 3rd quarter worth $15,237,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Energy Recovery by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock valued at $8,150,000 after purchasing an additional 7,440 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Stock Up 1.1 %

ERII stock opened at $15.06 on Monday. 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 $871.88 million, a price-to-earnings ratio of 44.29 and a beta of 1.18. The business has a fifty day moving average of $16.55 and a two-hundred day moving average of $16.14.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. During the same period in the previous year, the firm earned $0.17 EPS. Energy Recovery’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Energy Recovery will post 0.39 EPS for the current year.

About Energy Recovery

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.