Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Rating of “Buy” from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $18.30.

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

Insiders Place Their Bets

In other Energy Recovery news, insider William Yeung sold 9,168 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $18.00, for a total transaction of $165,024.00. Following the transaction, the insider owned 97,369 shares in the company, valued at approximately $1,752,642. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 72,333 shares of company stock worth $1,122,195. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds have recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC purchased a new position in Energy Recovery during the second quarter valued at $363,000. Versor Investments LP bought a new position in shares of Energy Recovery in the 2nd quarter worth about $243,000. Teacher Retirement System of Texas increased its stake in shares of Energy Recovery by 140.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 65,105 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 38,031 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Energy Recovery by 25.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 112,420 shares of the industrial products company’s stock valued at $1,437,000 after acquiring an additional 22,895 shares during the period. Finally, Select Equity Group L.P. boosted its stake in Energy Recovery by 403.5% during the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company’s stock worth $10,601,000 after acquiring an additional 534,662 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Trading Up 3.3%

Energy Recovery stock opened at $14.90 on Thursday. The firm has a market cap of $789.28 million, a P/E ratio of 43.82 and a beta of 1.13. Energy Recovery has a 1-year low of $10.86 and a 1-year high of $18.32. The firm has a 50-day moving average of $15.53 and a 200-day moving average of $14.21.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Energy Recovery had a return on equity of 10.09% and a net margin of 14.44%.The business had revenue of $32.00 million during the quarter, compared to analyst estimates of $29.94 million. Research analysts forecast that Energy Recovery will post 0.36 earnings per share for the current fiscal 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.