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

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has been assigned a consensus rating of "Buy" from the six analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.88.

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

Insider Activity

In other news, CEO David W. Moon purchased 4,200 shares of the stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the acquisition, the chief executive officer now owns 36,950 shares of the company's stock, valued at $450,790. The trade was a 12.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ERII. Ameriprise Financial Inc. increased its position in shares of Energy Recovery by 24.6% during 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 during the period. Select Equity Group L.P. raised its holdings in shares of Energy Recovery by 403.5% during the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock worth $10,601,000 after acquiring an additional 534,662 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Energy Recovery in the fourth quarter valued at approximately $5,741,000. KLP Kapitalforvaltning AS bought a new stake in shares of Energy Recovery during the 4th quarter worth about $4,670,000. Finally, Duff & Phelps Investment Management Co. bought a new position in shares of Energy Recovery in the fourth quarter valued at approximately $3,798,000. Institutional investors own 83.58% of the company's stock.

Energy Recovery Stock Down 0.9%

NASDAQ ERII traded down $0.11 on Thursday, reaching $12.57. The stock had a trading volume of 373,636 shares, compared to its average volume of 422,503. The stock has a fifty day moving average price of $13.71 and a two-hundred day moving average price of $14.77. Energy Recovery has a 12-month low of $10.86 and a 12-month high of $20.27. The firm has a market capitalization of $685.05 million, a price-to-earnings ratio of 36.97 and a beta of 1.02.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company's revenue for the quarter was down 33.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. Sell-side analysts forecast that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

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.