Analysts Set Energy Recovery, Inc. (NASDAQ:ERII) PT at $20.75

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.75.

Separately, StockNews.com raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

Energy Recovery Trading Down 3.6 %

ERII opened at $14.41 on Friday. The company has a 50 day moving average of $15.39 and a 200 day moving average of $16.18. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The company has a market cap of $791.90 million, a PE ratio of 42.38 and a beta of 1.05.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. Research analysts forecast that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently bought and sold shares of ERII. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $8,150,000 after purchasing an additional 7,440 shares during the last quarter. HighTower Advisors LLC grew its holdings in Energy Recovery by 10.6% in the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 3,176 shares during the last quarter. Barclays PLC increased its position in shares of Energy Recovery by 376.6% in the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock valued at $1,681,000 after acquiring an additional 76,393 shares during the period. Geode Capital Management LLC raised its stake in shares of Energy Recovery by 4.3% during 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 acquiring an additional 56,306 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Energy Recovery by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock worth $4,780,000 after purchasing an additional 109,847 shares during the period. 83.58% of the stock is currently owned by 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.