B. Riley Lowers Energy Recovery (NASDAQ:ERII) Price Target to $20.00

Energy Recovery (NASDAQ:ERII) had its price objective lowered by B. Riley from $22.00 to $20.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research analysts also recently commented on ERII. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Energy Recovery Trading Up 1.1 %

Shares of ERII opened at $15.80 on Tuesday. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $20.27. The company has a market cap of $914.73 million, a P/E ratio of 46.03 and a beta of 1.22. The company’s fifty day simple moving average is $17.78 and its 200-day simple moving average is $15.70.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. Analysts predict that Energy Recovery will post 0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Energy Recovery news, CTO Farshad Ghasripoor sold 10,526 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $189,152.22. Following the transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. This represents a 7.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock worth $828,688 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

Institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery in the 2nd quarter valued at about $26,000. CWM LLC boosted its holdings in shares of Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after buying an additional 4,177 shares in the last quarter. AXA S.A. bought a new stake in shares of Energy Recovery in the 2nd quarter valued at about $149,000. ProShare Advisors LLC bought a new stake in shares of Energy Recovery in the 1st quarter valued at about $158,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

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.