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

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have earned a consensus rating of "Buy" from the six brokerages that are presently covering the stock, Marketbeat.com 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 1 year price target among brokers that have issued a report on the stock in the last year is $18.88.

A number of analysts have recently commented on ERII shares. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and cut their price target for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th.

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total transaction of $380,400.00. Following the transaction, the director now owns 655,220 shares of the company's stock, valued at $8,308,189.60. The trade was a 4.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Moon purchased 4,200 shares of the stock in a transaction on Tuesday, May 13th. The shares were acquired at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the transaction, the chief executive officer now owns 36,950 shares of the company's stock, valued at approximately $450,790. The trade was a 12.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in shares of Energy Recovery by 1.9% in the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock valued at $1,440,000 after purchasing an additional 1,808 shares during the last quarter. Manchester Capital Management LLC grew its position in shares of Energy Recovery by 2.9% in the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 830 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Energy Recovery by 27.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock valued at $16,462,000 after purchasing an additional 243,653 shares during the last quarter. Keene & Associates Inc. grew its position in shares of Energy Recovery by 15.5% in the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company's stock valued at $479,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Energy Recovery by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock valued at $6,989,000 after purchasing an additional 6,834 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Energy Recovery Trading Down 1.7%

Shares of Energy Recovery stock traded down $0.21 during trading on Thursday, reaching $12.36. The stock had a trading volume of 354,166 shares, compared to its average volume of 423,672. The company has a market capitalization of $673.61 million, a price-to-earnings ratio of 36.35 and a beta of 1.02. The stock has a fifty day moving average price of $13.68 and a two-hundred day moving average price of $14.74. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $21.97 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business's revenue for the quarter was down 33.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, equities analysts forecast that Energy Recovery will post 0.36 EPS 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.