Energy Recovery, Inc. (NASDAQ:ERII) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.14.

A number of research analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $20.00 price objective (up from $16.00) on shares of Energy Recovery in a research note on Wednesday, November 1st. Jefferies Group reiterated a “buy” rating and set a $17.00 price objective (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. ValuEngine upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Capital One Financial assumed coverage on Energy Recovery in a research note on Thursday, September 7th. They set an “overweight” rating and a $16.00 price objective for the company.

In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the transaction, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Olav Fjell purchased 18,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $127,440. The disclosure for this purchase can be found here. Insiders own 23.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Heartland Advisors Inc. lifted its holdings in Energy Recovery by 183.3% in the 3rd quarter. Heartland Advisors Inc. now owns 850,000 shares of the industrial products company’s stock worth $6,715,000 after purchasing an additional 550,000 shares in the last quarter. 683 Capital Management LLC lifted its holdings in Energy Recovery by 115.3% in the 3rd quarter. 683 Capital Management LLC now owns 700,100 shares of the industrial products company’s stock worth $5,531,000 after purchasing an additional 374,900 shares in the last quarter. Rubric Capital Management LP purchased a new position in Energy Recovery in the 2nd quarter worth approximately $5,349,000. State Street Corp lifted its holdings in Energy Recovery by 8.8% in the 2nd quarter. State Street Corp now owns 604,520 shares of the industrial products company’s stock worth $5,014,000 after purchasing an additional 48,823 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Energy Recovery by 64.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock worth $4,920,000 after purchasing an additional 233,625 shares in the last quarter. 33.61% of the stock is currently owned by institutional investors.

Energy Recovery (NASDAQ:ERII) traded up $0.20 during trading on Thursday, hitting $10.30. The company’s stock had a trading volume of 287,454 shares, compared to its average volume of 423,147. The company has a market cap of $555.78, a P/E ratio of 148.14, a P/E/G ratio of 2.09 and a beta of 5.73. Energy Recovery has a 1-year low of $6.13 and a 1-year high of $12.73.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.31). The firm had revenue of $15.08 million for the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. sell-side analysts expect that Energy Recovery will post 0.33 earnings per share for the current fiscal year.

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Energy Recovery Company Profile

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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