Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Rating of "Buy" from Analysts

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has received an average rating of "Buy" from the six analysts that are covering the firm, MarketBeat reports. Two investment 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 12 month target price among analysts that have covered the stock in the last year is $18.88.

ERII has been the topic of a number of recent analyst reports. StockNews.com cut Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price target for the company from $20.00 to $12.50 in a research note on Thursday, May 8th.

Insider Buying and Selling

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now owns 111,109 shares of the company's stock, valued at $1,713,300.78. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company's stock, valued at approximately $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 currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently bought and sold shares of ERII. Avanza Fonder AB purchased a new stake in Energy Recovery during the fourth quarter worth about $107,000. Russell Investments Group Ltd. grew its holdings 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 valued at $138,000 after purchasing an additional 8,550 shares in the last quarter. American Century Companies Inc. purchased a new stake in Energy Recovery during the 1st quarter worth approximately $162,000. Schroder Investment Management Group purchased a new stake in Energy Recovery during the 4th quarter worth approximately $160,000. Finally, Juncture Wealth Strategies LLC acquired a new stake in Energy Recovery during the 1st quarter worth approximately $178,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Stock Performance

Shares of NASDAQ ERII traded down $0.17 during trading on Friday, hitting $12.91. 533,956 shares of the company were exchanged, compared to its average volume of 420,500. The company has a fifty day moving average price of $14.86 and a 200-day moving average price of $15.37. The firm has a market capitalization of $703.58 million, a PE ratio of 37.97 and a beta of 1.09. Energy Recovery has a 12-month low of $10.86 and a 12-month high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results 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 analysts' expectations of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery's revenue for the quarter was down 33.1% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. Research analysts anticipate that Energy Recovery will post 0.36 earnings per share 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.