Energy Recovery (NASDAQ:ERII) Given New $20.00 Price Target at B. Riley

Energy Recovery (NASDAQ:ERII - Free Report) had its price target cut by B. Riley from $22.00 to $20.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

ERII has been the topic of several other research reports. StockNews.com upgraded Energy Recovery from a "sell" rating to a "hold" rating in a report on Thursday, August 1st. Fearnley Fonds lowered Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Energy Recovery has an average rating of "Moderate Buy" and a consensus price target of $20.33.

Energy Recovery Stock Performance

ERII traded up $0.69 on Tuesday, hitting $15.35. 1,008,431 shares of the company were exchanged, compared to its average volume of 423,306. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The company has a market cap of $888.61 million, a PE ratio of 45.15 and a beta of 1.22. The stock's fifty day moving average is $17.78 and its 200-day moving average is $15.68.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. Energy Recovery's revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Energy Recovery will post 0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Farshad Ghasripoor sold 10,526 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the transaction, the chief technology officer now owns 126,961 shares of the company's stock, valued at approximately $2,281,489.17. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rodney Clemente sold 6,505 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the transaction, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock valued at $828,688 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company's stock worth $294,000 after buying an additional 1,330 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Energy Recovery by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company's stock worth $307,000 after buying an additional 1,433 shares in the last quarter. Rhumbline Advisers grew its position in Energy Recovery by 2.0% during the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company's stock worth $1,270,000 after buying an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in Energy Recovery during the second quarter worth approximately $26,000. Finally, AQR Capital Management LLC grew its position in Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock worth $159,000 after buying an additional 1,986 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

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.