Energy Recovery, Inc. (NASDAQ:ERII) Receives $15.00 Consensus PT from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.00.

ERII has been the subject of several recent analyst reports. Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Wall Street Zen cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Seaport Research Partners reissued a “buy” rating and issued a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Northcoast Research cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th.

Energy Recovery Stock Down 0.5%

Shares of NASDAQ ERII opened at $8.62 on Thursday. The company has a market cap of $444.27 million, a P/E ratio of 22.68 and a beta of 0.90. Energy Recovery has a 52 week low of $7.83 and a 52 week high of $18.32. The business has a 50-day simple moving average of $8.66 and a two-hundred day simple moving average of $11.19.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share 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 the consensus estimate of $8.37 million. Equities research analysts anticipate that Energy Recovery will post -0.17 EPS for the current year.

Insider Buying and Selling

In other news, Director Pamela L. Tondreau bought 20,000 shares of Energy Recovery stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Colin R. Sabol bought 11,180 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $8.88 per share, with a total value of $99,278.40. Following the transaction, the director directly owned 55,671 shares in the company, valued at $494,358.48. The trade was a 25.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ERII. Wexford Capital LP purchased a new stake in shares of Energy Recovery in the 3rd quarter valued at $27,000. Parallel Advisors LLC bought a new stake in Energy Recovery in the fourth quarter worth $38,000. Comerica Bank boosted its position in Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after buying an additional 2,324 shares during the period. Group One Trading LLC purchased a new stake in Energy Recovery during the first quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 3,803 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

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.