Energy Recovery, Inc. (NASDAQ:ERII) has been assigned an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.40.

ERII has been the topic of a number of recent analyst reports. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. FBR & Co set a $16.00 price target on shares of Energy Recovery and gave the company a “buy” rating in a research report on Monday, August 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price target (down previously from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th.

Energy Recovery (NASDAQ:ERII) traded up 0.77% during midday trading on Tuesday, reaching $6.55. 292,670 shares of the company were exchanged. The firm has a market cap of $350.92 million, a P/E ratio of 225.86 and a beta of 5.54. Energy Recovery has a one year low of $6.13 and a one year high of $16.67. The firm’s 50-day moving average is $6.96 and its 200-day moving average is $7.82.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The company had revenue of $12.20 million for the quarter, compared to analyst estimates of $14.99 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities analysts expect that Energy Recovery will post $0.36 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in ERII. Teachers Advisors LLC increased its position in Energy Recovery by 17.1% during the fourth quarter. Teachers Advisors LLC now owns 63,071 shares of the industrial products company’s stock worth $653,000 after acquiring an additional 9,209 shares during the period. Stoneridge Investment Partners LLC bought a new position in Energy Recovery during the first quarter worth $215,000. Chicago Equity Partners LLC increased its position in Energy Recovery by 1.5% during the first quarter. Chicago Equity Partners LLC now owns 60,755 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 910 shares during the period. Teza Capital Management LLC bought a new position in Energy Recovery during the first quarter worth $264,000. Finally, Virginia Retirement Systems ET AL bought a new position in Energy Recovery during the first quarter worth $835,000. 33.71% of the stock is currently owned by institutional investors and hedge funds.

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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