Brokerages Set Energy Recovery, Inc. (NASDAQ:ERII) PT at $20.75

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has been assigned an average rating of "Buy" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.75.

Several research firms recently issued reports on ERII. StockNews.com raised shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday. Scotiabank started coverage on Energy Recovery in a research note on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective for the company. Finally, Seaport Res Ptn upgraded shares of Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th.

Insider Activity

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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 represents a 6.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction that occurred 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 sale, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Remove Ads

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Avanza Fonder AB acquired a new position in shares of Energy Recovery during the fourth quarter valued at $107,000. Schroder Investment Management Group bought a new stake in shares of Energy Recovery in the fourth quarter worth about $160,000. Nebula Research & Development LLC raised its holdings in Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after buying an additional 687 shares during the period. Polymer Capital Management US LLC bought a new stake in Energy Recovery in the 4th quarter valued at $211,000. Finally, Two Sigma Investments LP bought a new stake in shares of Energy Recovery in the fourth quarter worth $229,000. Institutional investors own 83.58% of the company's stock.

Energy Recovery Stock Performance

Shares of ERII traded down $0.11 during midday trading on Friday, hitting $15.78. The company had a trading volume of 231,196 shares, compared to its average volume of 339,055. The company's 50-day simple moving average is $15.35 and its 200-day simple moving average is $16.20. The firm has a market capitalization of $867.19 million, a P/E ratio of 46.41 and a beta of 1.21. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Equities analysts predict that Energy Recovery will post 0.36 earnings per share for the current fiscal 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.