Energy Recovery, Inc. (NASDAQ:ERII) Receives $18.88 Average Price Target from Analysts

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has earned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year 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. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, B. Riley downgraded Energy Recovery from a "buy" rating to a "neutral" rating and cut their price objective for the company from $20.00 to $12.50 in a research note on Thursday, May 8th.

Insider Buying and Selling at Energy Recovery

In other news, Director Pamela L. Tondreau acquired 4,200 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $12.28 per share, with a total value of $51,576.00. Following the acquisition, the director owned 41,043 shares of the company's stock, valued at $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Moon acquired 4,200 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the acquisition, the chief executive officer directly owned 36,950 shares in the company, valued at $450,790. This represents a 12.82% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.20% of the company's stock.

Institutional Trading of Energy Recovery

Several institutional investors have recently modified their holdings of ERII. Charles Schwab Investment Management Inc. grew its holdings in shares of Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock worth $6,989,000 after purchasing an additional 6,834 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Energy Recovery during the 4th quarter worth approximately $5,741,000. Candriam S.C.A. grew its holdings in shares of Energy Recovery by 7.1% during the 4th quarter. Candriam S.C.A. now owns 162,976 shares of the industrial products company's stock worth $2,396,000 after purchasing an additional 10,744 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Energy Recovery during the 4th quarter worth approximately $388,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Energy Recovery during the 4th quarter worth approximately $4,670,000. Institutional investors and hedge funds own 83.58% of the company's stock.

Energy Recovery Price Performance

Shares of ERII stock traded down $0.32 during trading on Monday, reaching $12.88. The company had a trading volume of 299,534 shares, compared to its average volume of 429,820. The firm's 50 day simple moving average is $12.92 and its two-hundred day simple moving average is $14.34. Energy Recovery has a one year low of $10.86 and a one year high of $20.27. The company has a market capitalization of $701.96 million, a PE ratio of 34.81 and a beta of 1.01.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The company had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm's revenue was down 33.1% on a year-over-year basis. Analysts forecast that Energy Recovery will post 0.36 earnings per share 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.