Energy Recovery, Inc. (NASDAQ:ERII) Given Average Recommendation of "Buy" by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has been assigned a consensus rating of "Buy" from the six ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $20.75.

Separately, StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a research note on Saturday, March 29th.

Insider Activity at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 693,182 shares of the company's stock, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. This represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently bought and sold shares of ERII. Geode Capital Management LLC lifted its holdings in Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company's stock valued at $23,631,000 after acquiring an additional 56,306 shares during the last quarter. Barclays PLC raised its position in Energy Recovery by 376.6% in the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company's stock valued at $1,681,000 after purchasing an additional 76,393 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock worth $6,989,000 after purchasing an additional 6,834 shares during the period. Bank of Montreal Can increased its position in shares of Energy Recovery by 99.0% during the 4th quarter. Bank of Montreal Can now owns 49,358 shares of the industrial products company's stock worth $726,000 after purchasing an additional 24,555 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Energy Recovery by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company's stock valued at $4,780,000 after buying an additional 109,847 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Price Performance

Shares of ERII stock opened at $14.88 on Wednesday. The stock's fifty day moving average price is $15.45 and its 200 day moving average price is $15.95. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27. The company has a market cap of $817.73 million, a price-to-earnings ratio of 43.76 and a beta of 1.05.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $67.08 million during the quarter, compared to analysts' expectations of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities research analysts anticipate that Energy Recovery will post 0.36 earnings per share for the current 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.

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