Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) Price Target at $18.88

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $18.88.

A number of analysts have recently commented on ERII shares. Fearnley Fonds upgraded Energy Recovery from a “hold” rating to a “strong-buy” rating in a report on Tuesday. B. Riley downgraded Energy Recovery from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th.

Insider Activity at Energy Recovery

In other Energy Recovery news, CEO David W. Moon bought 4,200 shares of the stock in a transaction dated Tuesday, May 13th. The stock was bought at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the completion of the purchase, the chief executive officer now directly owns 36,950 shares of the company’s stock, valued at approximately $450,790. The trade was a 12.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Trading of Energy Recovery

Several large investors have recently modified their holdings of ERII. Avanza Fonder AB acquired a new stake in shares of Energy Recovery during the fourth quarter valued at about $107,000. Russell Investments Group Ltd. grew its stake in shares of Energy Recovery by 5,662.3% during the first quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 8,550 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Energy Recovery during the fourth quarter valued at about $160,000. American Century Companies Inc. bought a new position in shares of Energy Recovery during the first quarter worth about $162,000. Finally, Nebula Research & Development LLC lifted its position in shares of Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 687 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Stock Down 1.5%

ERII stock opened at $12.45 on Friday. The company has a market cap of $678.51 million, a price-to-earnings ratio of 36.62 and a beta of 1.09. The business has a fifty day simple moving average of $14.72 and a 200-day simple moving average of $15.31. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The firm had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s quarterly revenue was down 33.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. As a group, analysts expect that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

About Energy Recovery

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.