Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Consensus PT from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have earned a consensus rating of "Buy" from the six research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.75.

Separately, StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th.

Energy Recovery Trading Down 0.6 %

Shares of ERII traded down $0.10 during mid-day trading on Wednesday, hitting $15.08. The company's stock had a trading volume of 120,336 shares, compared to its average volume of 405,932. The firm has a 50-day simple moving average of $15.43 and a 200 day simple moving average of $15.87. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27. The firm has a market capitalization of $825.45 million, a P/E ratio of 44.53 and a beta of 1.05.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $67.08 million for the quarter, compared to analysts' expectations of $67.39 million. As a group, sell-side analysts predict that Energy Recovery will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Institutional Trading of Energy Recovery

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its holdings in Energy Recovery by 24.6% in the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock valued at $72,823,000 after purchasing an additional 978,490 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Energy Recovery in the fourth quarter valued at approximately $5,741,000. KLP Kapitalforvaltning AS purchased a new position in shares of Energy Recovery during the fourth quarter valued at approximately $4,670,000. Duff & Phelps Investment Management Co. acquired a new stake in Energy Recovery during the fourth quarter worth approximately $3,798,000. Finally, Baillie Gifford & Co. boosted its position in Energy Recovery by 27.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock worth $16,462,000 after acquiring an additional 243,653 shares during the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Recovery

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.