Energy Recovery, Inc. (NASDAQ:ERII) Receives $13.50 Consensus Target Price from Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.50.

Several equities analysts have commented on the stock. Freedom Capital lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings lowered shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Seaport Research Partners reissued a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a research note on Wednesday, May 13th. B. Riley Financial cut their target price on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total transaction of $46,112.72. Following the completion of the transaction, the senior vice president owned 108,301 shares of the company’s stock, valued at approximately $927,056.56. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Colin R. Sabol bought 11,180 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $8.88 per share, with a total value of $99,278.40. Following the acquisition, the director directly owned 55,671 shares of the company’s stock, valued at approximately $494,358.48. The trade was a 25.13% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently added to or reduced their stakes in the stock. Wexford Capital LP bought a new position in Energy Recovery in the 3rd quarter valued at approximately $27,000. Quantbot Technologies LP bought a new stake in shares of Energy Recovery during the second quarter worth $33,000. Parallel Advisors LLC bought a new stake in shares of Energy Recovery during the fourth quarter worth $38,000. Group One Trading LLC acquired a new position in shares of Energy Recovery during the first quarter worth $41,000. Finally, Comerica Bank increased its holdings in shares of Energy Recovery by 150.5% during the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock worth $52,000 after buying an additional 2,324 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Stock Performance

NASDAQ:ERII opened at $7.65 on Friday. The stock has a fifty day moving average price of $8.37 and a 200-day moving average price of $9.59. The company has a market cap of $394.32 million, a price-to-earnings ratio of 27.32 and a beta of 0.90. Energy Recovery has a fifty-two week low of $7.51 and a fifty-two week high of $18.32.

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

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.