B. Riley Financial Has Lowered Expectations for Energy Recovery (NASDAQ:ERII) Stock Price

Energy Recovery (NASDAQ:ERII) had its target price reduced by stock analysts at B. Riley Financial from $10.00 to $8.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. B. Riley Financial’s price target would suggest a potential downside of 7.83% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Seaport Research Partners reaffirmed a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday, May 13th. Northcoast Research cut Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $8.68 on Thursday. The business has a 50 day simple moving average of $8.62 and a 200 day simple moving average of $10.56. Energy Recovery has a 52 week low of $7.83 and a 52 week high of $18.32. The stock has a market cap of $447.41 million, a price-to-earnings ratio of 31.00 and a beta of 0.91.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%.The company had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.36 million. On average, analysts predict that Energy Recovery will post -0.17 EPS for the current year.

Insiders Place Their Bets

In related news, Director Colin R. Sabol purchased 11,180 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $8.88 per share, with a total value of $99,278.40. Following the completion of the acquisition, the director directly owned 55,671 shares in the company, valued at approximately $494,358.48. This trade represents a 25.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela L. Tondreau acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $8.34 per share, with a total value of $166,800.00. Following the transaction, the director directly owned 37,362 shares in the company, valued at $311,599.08. The trade was a 115.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently made changes to their positions in ERII. Wexford Capital LP bought a new position in Energy Recovery in the third quarter valued at about $27,000. Parallel Advisors LLC bought a new stake in Energy Recovery during the 4th quarter worth about $38,000. Comerica Bank lifted its position in Energy Recovery by 150.5% during the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 2,324 shares during the period. Group One Trading LLC bought a new position in shares of Energy Recovery in the 1st quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Energy Recovery by 172.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 3,803 shares during the last quarter. Institutional investors 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.