Analysts Set Energy Recovery, Inc. (NASDAQ:ERII) Target Price at $18.88

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have earned an average rating of "Buy" from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.88.

ERII has been the topic of several recent research reports. Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. B. Riley cut shares of Energy Recovery from a "buy" rating to a "neutral" rating and decreased their target price for the company from $20.00 to $12.50 in a research report on Thursday, May 8th. Finally, Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday.

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This represents a 6.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela L. Tondreau bought 4,200 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $12.28 per share, for a total transaction of $51,576.00. Following the completion of the purchase, the director now directly owns 41,043 shares in the company, valued at approximately $504,008.04. This represents a 11.40% increase in their ownership of the stock. The disclosure for this purchase 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 modified their holdings of ERII. Avanza Fonder AB bought a new position in shares of Energy Recovery during the fourth quarter valued at approximately $107,000. Russell Investments Group Ltd. boosted its stake in shares of Energy Recovery by 5,662.3% during 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. Schroder Investment Management Group bought a new position in shares of Energy Recovery during the fourth quarter valued at approximately $160,000. American Century Companies Inc. bought a new position in shares of Energy Recovery during the first quarter valued at approximately $162,000. Finally, Nebula Research & Development LLC lifted its position in Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after acquiring an additional 687 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Stock Up 0.9%

ERII stock traded up $0.11 during mid-day trading on Friday, hitting $12.56. The company had a trading volume of 423,207 shares, compared to its average volume of 423,397. The company has a market capitalization of $684.51 million, a price-to-earnings ratio of 36.94 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 company has a 50-day moving average price of $14.65 and a 200 day moving average price of $15.26.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $8.07 million during 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%. The firm's revenue for the quarter was down 33.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. As a group, analysts expect that Energy Recovery will post 0.36 EPS for the current 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.