Energy Recovery (NASDAQ:ERII) Price Target Lowered to $8.00 at B. Riley Financial

Key Points

• B. Riley Financial lowered Energy Recovery’s price target from $10.00 to $8.00 and maintained a “neutral” rating, implying roughly 6.65% downside from the $8.57 share price.
• Energy Recovery reported a quarterly loss of $0.03 per share and revenue of $12.0 million, missing analyst estimates of a $0.02 loss and $18.36 million in revenue. Shares fell 3.3% and remain near their 12-month low.
• Analyst sentiment is mixed but leans toward “Hold”: MarketBeat lists one Buy, three Hold, and one Sell rating, with a consensus price target of $13.50. Institutional investors own 83.58% of the company, while recent insider activity included both a director purchase and an executive sale.

Energy Recovery (NASDAQ:ERII - Get Free Report) had its target price lowered by investment analysts at B. Riley Financial from $10.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. B. Riley Financial's target price points to a potential downside of 6.65% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. Seaport Research Partners reiterated a "buy" rating and issued a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Energy Recovery from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, June 25th. Freedom Capital lowered shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Energy Recovery from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Northcoast Research lowered shares of Energy Recovery from a "buy" rating to a "neutral" rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $13.50.

Energy Recovery Stock Down 3.3%

Shares of ERII traded down $0.29 on Thursday, reaching $8.57. The stock had a trading volume of 123,328 shares, compared to its average volume of 859,814. The firm has a 50-day moving average of $8.61 and a 200 day moving average of $10.61. The firm has a market capitalization of $441.70 million, a PE ratio of 22.55 and a beta of 0.91. Energy Recovery has a twelve month low of $7.83 and a twelve month high of $18.32.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The firm had revenue of $12.00 million during the quarter, compared to analysts' expectations of $18.36 million. On average, sell-side analysts anticipate that Energy Recovery will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the sale, the senior vice president directly owned 108,301 shares in the company, valued at approximately $927,056.56. The trade was a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Colin R. Sabol bought 11,180 shares of the business's stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $8.88 per share, with a total value of $99,278.40. Following the purchase, the director directly owned 55,671 shares of the company's stock, valued at $494,358.48. The trade was a 25.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ERII. Ameriprise Financial Inc. increased its position in shares of Energy Recovery by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 5,401,044 shares of the industrial products company's stock valued at $69,025,000 after acquiring an additional 262,151 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Energy Recovery by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company's stock valued at $51,969,000 after buying an additional 89,696 shares during the last quarter. Amundi increased its holdings in Energy Recovery by 31.2% during the first quarter. Amundi now owns 3,740,309 shares of the industrial products company's stock worth $37,648,000 after buying an additional 888,618 shares during the last quarter. State Street Corp raised its position in Energy Recovery by 22.6% during the fourth quarter. State Street Corp now owns 1,764,522 shares of the industrial products company's stock worth $23,803,000 after acquiring an additional 325,280 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Energy Recovery by 2.8% in the 4th quarter. Legal & General Group Plc now owns 1,343,847 shares of the industrial products company's stock valued at $18,128,000 after acquiring an additional 36,109 shares during the period. Institutional investors own 83.58% of the company's stock.

Energy Recovery Company Profile

Energy Recovery, Inc NASDAQ: ERII is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company's core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.

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