Energy Recovery, Inc. (NASDAQ:ERII) Given Average Recommendation of “Hold” by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has received an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.00.

Several equities research analysts have recently issued reports on ERII shares. Seaport Research Partners reiterated a “buy” rating and set a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Northcoast Research lowered Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th.

Energy Recovery Stock Down 6.7%

Energy Recovery stock opened at $8.45 on Wednesday. The company’s fifty day simple moving average is $10.22 and its 200-day simple moving average is $12.91. Energy Recovery has a 12 month low of $8.14 and a 12 month high of $18.32. The stock has a market cap of $435.51 million, a P/E ratio of 22.24 and a beta of 1.04.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The company had revenue of $9.71 million for the quarter, compared to analysts’ expectations of $8.37 million. On average, equities research analysts expect that Energy Recovery will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other Energy Recovery news, Director Pamela L. Tondreau purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $8.34 per share, for a total transaction of $166,800.00. Following the acquisition, the director owned 37,362 shares of the company’s stock, valued at $311,599.08. This trade represents a 115.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 20,568 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $10.61, for a total transaction of $218,226.48. Following the transaction, the senior vice president owned 116,008 shares in the company, valued at $1,230,844.88. This represents a 15.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 238,551 shares of company stock worth $2,456,512. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of Energy Recovery by 5.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company’s stock valued at $69,025,000 after acquiring an additional 262,151 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Energy Recovery by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after acquiring an additional 89,696 shares during the last quarter. Amundi increased its holdings in shares of Energy Recovery by 31.2% during the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock valued at $37,648,000 after acquiring an additional 888,618 shares during the last quarter. State Street Corp increased its holdings in shares of Energy Recovery by 22.6% during the 4th quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock valued at $23,803,000 after acquiring an additional 325,280 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Energy Recovery by 2.8% during the 4th quarter. Legal & General Group Plc now owns 1,343,847 shares of the industrial products company’s stock valued at $18,128,000 after acquiring an additional 36,109 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.