Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Consensus PT from Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $20.75.

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

Energy Recovery Stock Performance

NASDAQ ERII traded down $0.14 on Monday, hitting $14.72. 252,574 shares of the stock were exchanged, compared to its average volume of 433,405. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The firm has a market capitalization of $852.20 million, a P/E ratio of 43.29 and a beta of 1.18. The stock has a fifty day moving average price of $16.80 and a two-hundred day moving average price of $16.13.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $38.60 million during the quarter, compared to analysts' expectations of $37.37 million. During the same period in the previous year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Energy Recovery will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Farshad Ghasripoor sold 10,526 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $189,152.22. Following the completion of the sale, the chief technology officer now owns 126,961 shares in the company, valued at approximately $2,281,489.17. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Moon sold 2,550 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 transaction of $45,823.50. Following the completion of the sale, the chief executive officer now directly owns 87,101 shares of the company's stock, valued at $1,565,204.97. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,406 shares of company stock worth $1,166,088. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Energy Recovery

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Energy Recovery by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 205,786 shares of the industrial products company's stock worth $2,735,000 after purchasing an additional 23,660 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Energy Recovery by 12.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company's stock valued at $283,000 after buying an additional 2,398 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Energy Recovery by 82.3% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company's stock worth $3,640,000 after buying an additional 123,664 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Energy Recovery during the second quarter valued at approximately $26,000. Finally, Van ECK Associates Corp lifted its position in Energy Recovery by 23.6% during the second quarter. Van ECK Associates Corp now owns 122,783 shares of the industrial products company's stock valued at $1,632,000 after acquiring an additional 23,449 shares during the last quarter. Institutional investors 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.