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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have issued 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 $20.75.

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

Insider Activity

In related news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the transaction, the director now directly owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. The trade was a 2.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 19,618 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.00, for a total transaction of $392,360.00. Following the transaction, the senior vice president now owns 114,205 shares in the company, valued at $2,284,100. The trade was a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,825 shares of company stock worth $814,152. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its position in shares of Energy Recovery by 20.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 19,906 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 3,340 shares during the period. Bank of Montreal Can lifted its holdings in shares of Energy Recovery by 450.8% in the 2nd quarter. Bank of Montreal Can now owns 101,351 shares of the industrial products company’s stock worth $1,348,000 after buying an additional 82,950 shares during the period. Squarepoint Ops LLC grew its position in shares of Energy Recovery by 18.0% during the 2nd quarter. Squarepoint Ops LLC now owns 238,322 shares of the industrial products company’s stock worth $3,167,000 after buying an additional 36,309 shares in the last quarter. AXA S.A. purchased a new position in shares of Energy Recovery during the second quarter valued at $149,000. Finally, AQR Capital Management LLC raised its holdings in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 1,986 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $14.56 on Friday. The stock has a market capitalization of $842.88 million, a PE ratio of 42.82 and a beta of 1.18. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27. The company’s fifty day simple moving average is $15.23 and its 200-day simple moving average is $16.35.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS 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 quarter last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, 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.