Energy Recovery, Inc. (NASDAQ:ERII) Receives Consensus Rating of “Reduce” from Analysts

Energy Recovery, Inc. (NASDAQ:ERII) has received a consensus recommendation of “Reduce” from the four analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.67.

Several equities analysts have weighed in on the company. B. Riley Financial dropped their target price on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Finally, Seaport Research Partners cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Monday, September 14th.

Energy Recovery Stock Performance

Energy Recovery stock opened at $6.81 on Tuesday. The company has a market capitalization of $350.99 million, a PE ratio of 24.32 and a beta of 0.90. Energy Recovery has a fifty-two week low of $6.69 and a fifty-two week high of $18.32. The firm has a 50 day moving average price of $7.86 and a 200 day moving average price of $8.92.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. The firm had revenue of $12.00 million during the quarter, compared to analyst estimates of $18.36 million. As a group, equities research analysts forecast that Energy Recovery will post -0.17 earnings per share for the current year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the transaction, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade represents a 4.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of Energy Recovery

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Energy Recovery during the second quarter worth about $57,225,000. Amundi grew its stake in shares of Energy Recovery by 7.0% during the 2nd quarter. Amundi now owns 4,003,535 shares of the industrial products company’s stock worth $36,094,000 after purchasing an additional 263,226 shares during the period. Legal & General Group Plc purchased a new position in shares of Energy Recovery in the 2nd quarter valued at about $18,579,000. Kopion Asset Management LLC lifted its stake in shares of Energy Recovery by 26.2% in the second quarter. Kopion Asset Management LLC now owns 639,545 shares of the industrial products company’s stock valued at $5,769,000 after purchasing an additional 132,580 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Energy Recovery by 47.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock valued at $5,177,000 after purchasing an additional 165,915 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc develops and manufactures energy-recovery and fluid-management technologies for industrial applications. The company is best known for its PX Pressure Exchanger, which transfers hydraulic energy from high-pressure reject streams to incoming feedwater, helping reduce the energy requirements of seawater and brackish-water desalination systems.

Its products and related technologies are used in municipal and industrial water treatment, desalination, oil and gas, chemical processing, and other applications involving high-pressure fluids.