Energy Recovery, Inc. (NASDAQ:ERII) Receives Consensus Recommendation of "Buy" from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has been given a consensus recommendation of "Buy" by the six research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.75.

ERII has been the topic of several recent research reports. Evercore ISI dropped their target price on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. B. Riley lowered their target price on Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Scotiabank initiated coverage on Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 target price on the stock. Finally, Fearnley Fonds lowered Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th.

Energy Recovery Trading Down 1.4 %

Shares of NASDAQ ERII traded down $0.21 during trading hours on Friday, reaching $14.40. The stock had a trading volume of 228,635 shares, compared to its average volume of 265,029. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The firm has a market cap of $833.62 million, a price-to-earnings ratio of 42.35 and a beta of 1.18. The business's fifty day moving average price is $15.28 and its two-hundred day moving average price is $16.33.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to analysts' expectations of $37.37 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 up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Equities research analysts anticipate that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon sold 2,550 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rodney Clemente sold 6,505 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, the senior vice president now directly owns 133,823 shares of the company's stock, valued at $2,406,137.54. This represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,406 shares of company stock worth $1,166,088. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in Energy Recovery by 5,032.5% during the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock worth $74,000 after purchasing an additional 4,177 shares during the period. Avanza Fonder AB acquired a new stake in Energy Recovery during the fourth quarter worth about $107,000. AXA S.A. acquired a new stake in Energy Recovery during the second quarter worth about $149,000. AQR Capital Management LLC lifted its holdings in Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock valued at $159,000 after acquiring an additional 1,986 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new stake in Energy Recovery in the 3rd quarter worth approximately $193,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

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.