Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Rating of “Buy” by Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $18.88.

Several equities research analysts recently issued reports on ERII shares. B. Riley lowered Energy Recovery from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. StockNews.com lowered Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th.

Insiders Place Their Bets

In related news, CEO David W. Moon bought 4,200 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were purchased at an average cost of $12.20 per share, with a total value of $51,240.00. Following the completion of the transaction, the chief executive officer now directly owns 36,950 shares of the company’s stock, valued at approximately $450,790. This represents a 12.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. The trade was a 16.18% decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Energy Recovery Trading Up 7.2%

ERII stock opened at $13.16 on Friday. The firm has a market cap of $717.21 million, a P/E ratio of 38.71 and a beta of 1.09. Energy Recovery has a 12-month low of $10.86 and a 12-month high of $20.27. The stock’s 50 day simple moving average is $14.99 and its 200 day simple moving average is $15.44.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 14.35% and a return on equity of 8.90%. The business’s revenue was down 33.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, research analysts forecast that Energy Recovery will post 0.36 EPS for the current fiscal year.

Energy Recovery Company Profile

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.