Energy Recovery, Inc. (NASDAQ:ERII) Stock Has Consensus Price Target of $11.67 According to Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have earned a consensus recommendation of “Reduce” from the four ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.67.

ERII has been the subject of a number of research reports. Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Seaport Research Partners cut Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Monday, September 14th. Finally, B. Riley Financial reduced their price objective on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 6th.

Insider Buying and Selling

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total value of $46,112.72. Following the transaction, the senior vice president directly owned 108,301 shares in the company, valued at approximately $927,056.56. This trade represents a 4.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Energy Recovery during the second quarter valued at approximately $57,225,000. Legal & General Group Plc bought a new stake in Energy Recovery in the 2nd quarter valued at approximately $18,579,000. Amundi boosted its holdings in Energy Recovery by 31.2% during the first quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock worth $37,648,000 after purchasing an additional 888,618 shares during the last quarter. Kopion Asset Management LLC increased its position in shares of Energy Recovery by 59.2% in the third quarter. Kopion Asset Management LLC now owns 1,018,133 shares of the industrial products company’s stock valued at $6,791,000 after acquiring an additional 378,588 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Energy Recovery by 124.7% during the 1st quarter. SG Americas Securities LLC now owns 364,337 shares of the industrial products company’s stock worth $3,669,000 after purchasing an additional 202,221 shares during the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Trading Up 0.2%

ERII stock traded up $0.01 on Friday, hitting $6.65. 888,169 shares of the company’s stock traded hands, compared to its average volume of 836,892. Energy Recovery has a 1-year low of $6.60 and a 1-year high of $18.32. The stock has a market cap of $342.74 million, a price-to-earnings ratio of 23.75 and a beta of 0.91. The stock has a fifty day moving average of $7.32 and a 200-day moving average of $8.56.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. The company had revenue of $12.00 million during the quarter, compared to analyst estimates of $18.36 million. On average, equities research analysts anticipate that Energy Recovery will post -0.17 earnings per share for the current fiscal year.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) develops and manufactures energy recovery and fluid-flow solutions for industrial applications. Its technologies are designed to capture and reuse hydraulic energy, helping customers reduce power consumption, operating costs, and environmental impact.

The company is best known for its PX Pressure Exchanger technology, which transfers pressure energy between fluid streams with high efficiency. The products are used primarily in seawater and industrial wastewater desalination, where they help reduce the energy required for reverse-osmosis systems.