Energy Recovery (NASDAQ:ERII) Upgraded by Fearnley Fonds to Strong-Buy Rating

Energy Recovery (NASDAQ:ERII - Get Free Report) was upgraded by stock analysts at Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and reduced their price target for the stock 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 research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Energy Recovery currently has a consensus rating of "Buy" and an average target price of $18.88.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII traded up $0.11 during midday trading on Tuesday, hitting $12.56. 423,207 shares of the stock were exchanged, compared to its average volume of 423,976. The stock has a market capitalization of $684.51 million, a price-to-earnings ratio of 36.94 and a beta of 1.09. The business's 50-day moving average price is $14.65 and its 200 day moving average price is $15.23. Energy Recovery has a 12 month low of $10.86 and a 12 month high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). The firm had revenue of $8.07 million for the quarter, compared to the consensus estimate of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. 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 posted ($0.08) earnings per share. As a group, sell-side analysts expect that Energy Recovery will post 0.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now directly owns 693,182 shares of the company's stock, valued at $11,326,593.88. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela L. Tondreau purchased 4,200 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $12.28 per share, for a total transaction of $51,576.00. Following the completion of the purchase, the director now owns 41,043 shares of the company's stock, valued at approximately $504,008.04. This trade represents a 11.40% increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in Energy Recovery by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company's stock valued at $81,657,000 after buying an additional 184,942 shares during the period. Vanguard Group Inc. lifted its stake in Energy Recovery by 7.5% in the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock valued at $55,534,000 after buying an additional 242,494 shares during the period. KBC Group NV lifted its stake in Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company's stock valued at $18,270,000 after buying an additional 4,670 shares during the period. Baillie Gifford & Co. lifted its stake in 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 buying an additional 243,653 shares during the period. Finally, Invesco Ltd. lifted its stake in Energy Recovery by 14.4% in the fourth quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company's stock valued at $12,617,000 after buying an additional 107,800 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.

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.