Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received an average recommendation of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.0667.

Several brokerages have recently issued reports on ERII. Weiss Ratings restated a “hold (c)” rating on shares of Energy Recovery in a research report on Tuesday, October 14th. Loop Capital set a $18.20 target price on shares of Energy Recovery in a research note on Monday, November 10th. B. Riley restated a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. Finally, CJS Securities began coverage on shares of Energy Recovery in a report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target for the company.

Energy Recovery Price Performance

ERII stock opened at $14.41 on Thursday. The company’s 50 day simple moving average is $15.44 and its 200-day simple moving average is $14.27. Energy Recovery has a 12 month low of $10.86 and a 12 month high of $18.32. The firm has a market capitalization of $763.30 million, a PE ratio of 42.38 and a beta of 1.13.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $32.00 million for the quarter, compared to analyst estimates of $29.94 million. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%. As a group, sell-side analysts anticipate that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Activity at Energy Recovery

In other news, Director Arve Hanstveit sold 15,000 shares of Energy Recovery stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $14.97, for a total value of $224,550.00. Following the completion of the sale, the director owned 640,220 shares of the company’s stock, valued at $9,584,093.40. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Yeung sold 9,168 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $18.00, for a total value of $165,024.00. Following the completion of the transaction, the insider owned 97,369 shares of the company’s stock, valued at $1,752,642. The trade was a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 53,779 shares of company stock valued at $859,877 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Energy Recovery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Wexford Capital LP purchased a new position in shares of Energy Recovery during the 3rd quarter worth about $27,000. Hantz Financial Services Inc. boosted its holdings in shares of Energy Recovery by 2,581.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,859 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Energy Recovery in the 2nd quarter valued at $37,000. State of Alaska Department of Revenue purchased a new stake in shares of Energy Recovery during the 3rd quarter valued at $46,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Energy Recovery by 172.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock worth $77,000 after buying an additional 3,803 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.