Energy Recovery (NASDAQ:ERII) Receives Neutral Rating from Seaport Research Partners

Key Points

• Seaport Research Partners reaffirmed a “neutral” rating on Energy Recovery, while the analyst consensus remains “Hold” with an average price target of $13.50.
• Energy Recovery opened at $7.55, near its 52-week low of $7.25, after reporting quarterly EPS of $(0.03) and revenue of $12.0 million—both below analyst expectations.
• An Energy Recovery senior vice president sold 5,387 shares for approximately $46,113; insiders own 2.5% of the company, while institutional investors hold 83.58%.

Energy Recovery (NASDAQ:ERII - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Seaport Research Partners in a note issued to investors on Monday, Marketbeat reports.

A number of other equities analysts have also recently commented on the stock. B. Riley Financial cut their price target on shares of Energy Recovery from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Weiss Ratings raised shares of Energy Recovery from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.50.

Energy Recovery Price Performance

NASDAQ ERII opened at $7.55 on Monday. The company's 50 day simple moving average is $8.21 and its two-hundred day simple moving average is $9.23. Energy Recovery has a 1 year low of $7.25 and a 1 year high of $18.32. The stock has a market capitalization of $389.13 million, a PE ratio of 26.96 and a beta of 0.90.

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

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the completion of the sale, the senior vice president directly owned 108,301 shares in the company, valued at $927,056.56. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds have recently modified their holdings of ERII. Wexford Capital LP purchased a new stake in Energy Recovery in the 3rd quarter worth approximately $27,000. Quantbot Technologies LP purchased a new position in Energy Recovery during the 2nd quarter valued at $33,000. Parallel Advisors LLC bought a new position in Energy Recovery in the 4th quarter worth $38,000. Group One Trading LLC bought a new position in Energy Recovery in the 1st quarter worth $41,000. Finally, Comerica Bank lifted its position in shares of Energy Recovery by 150.5% in the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company's stock worth $52,000 after purchasing an additional 2,324 shares during the period. Hedge funds and other institutional investors own 83.58% of the company's stock.

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.

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