FBR & Co set a $16.00 target price on Energy Recovery, Inc. (NASDAQ:ERII) in a research note released on Monday morning. The brokerage currently has a buy rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Energy Recovery from a hold rating to a buy rating and set a $9.50 target price for the company in a report on Monday, May 1st. Jefferies Group LLC reissued a buy rating and issued a $17.00 price objective (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. Finally, BidaskClub raised shares of Energy Recovery from a sell rating to a hold rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $16.92.

Energy Recovery (NASDAQ ERII) opened at 6.45 on Monday. The firm’s 50-day moving average price is $7.16 and its 200-day moving average price is $7.94. Energy Recovery has a 12 month low of $6.13 and a 12 month high of $16.67. The firm has a market cap of $345.57 million, a P/E ratio of 222.41 and a beta of 5.51.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The firm had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. During the same period in the previous year, the company earned $0.01 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. On average, equities research analysts expect that Energy Recovery will post $0.35 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its position in Energy Recovery by 22.0% in the first quarter. OppenheimerFunds Inc. now owns 33,183 shares of the industrial products company’s stock valued at $276,000 after buying an additional 5,979 shares during the period. Alliancebernstein L.P. raised its position in Energy Recovery by 19.8% in the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock valued at $166,000 after buying an additional 3,300 shares during the period. Neuberger Berman Group LLC acquired a new position in Energy Recovery during the first quarter valued at approximately $166,000. American International Group Inc. raised its position in Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,399 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Energy Recovery during the first quarter valued at approximately $447,000. Institutional investors and hedge funds own 33.71% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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