Energy Recovery, Inc. (NASDAQ:ERII) Receives $15.00 Consensus Target Price from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has earned an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.50.

ERII has been the subject of a number of analyst reports. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Wall Street Zen downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Seaport Research Partners restated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a research report on Wednesday, May 13th. Finally, B. Riley Financial cut their price target on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday.

Insider Activity

In related news, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total value of $46,112.72. Following the sale, the senior vice president directly owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Pamela L. Tondreau acquired 20,000 shares of Energy Recovery stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $8.34 per share, for a total transaction of $166,800.00. Following the completion of the purchase, the director directly owned 37,362 shares of the company’s stock, valued at $311,599.08. This represents a 115.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ERII. Royal Bank of Canada increased its position in Energy Recovery by 43.1% during the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 4,899 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Energy Recovery during the first quarter worth $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Energy Recovery by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock worth $714,000 after buying an additional 3,185 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Energy Recovery by 10.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company’s stock worth $3,274,000 after buying an additional 19,992 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Energy Recovery by 54.4% during the first quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock worth $1,944,000 after buying an additional 43,089 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Price Performance

Energy Recovery stock opened at $8.68 on Monday. The firm has a market cap of $447.37 million, a PE ratio of 31.00 and a beta of 0.91. The stock’s fifty day moving average price is $8.62 and its two-hundred day moving average price is $10.53. Energy Recovery has a one year low of $7.83 and a one year high of $18.32.

Energy Recovery (NASDAQ:ERII) last released its earnings results 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). The company had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.36 million. Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. Sell-side analysts expect that Energy Recovery will post -0.17 earnings per share for the current fiscal year.

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.