Seaport Res Ptn Weighs in on Energy Recovery FY2024 Earnings

Energy Recovery, Inc. (NASDAQ:ERII) – Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for Energy Recovery in a research report issued on Thursday, December 5th. Seaport Res Ptn analyst J. Campbell expects that the industrial products company will earn $0.34 per share for the year. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for Energy Recovery’s current full-year earnings is $0.39 per share. Seaport Res Ptn also issued estimates for Energy Recovery’s Q4 2024 earnings at $0.35 EPS, Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.62 EPS, Q1 2026 earnings at $0.13 EPS, Q2 2026 earnings at $0.18 EPS and FY2026 earnings at $0.81 EPS.

Other equities research analysts have also issued reports about the company. Evercore ISI reduced their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Scotiabank started coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 target price on the stock. Finally, B. Riley reduced their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Energy Recovery currently has a consensus rating of “Buy” and an average target price of $20.75.

Energy Recovery Stock Performance

Energy Recovery stock opened at $16.59 on Monday. Energy Recovery has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a market cap of $960.40 million, a PE ratio of 48.79 and a beta of 1.18. The firm’s 50 day moving average price is $17.53 and its two-hundred day moving average price is $15.90.

Energy Recovery (NASDAQ:ERII) last issued its 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 business had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. bought a new position in Energy Recovery in the third quarter valued at about $15,237,000. Alpha Wave Global LP raised its position in shares of Energy Recovery by 93.0% during the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock worth $20,374,000 after purchasing an additional 564,463 shares during the period. Millennium Management LLC raised its holdings in Energy Recovery by 130.3% during the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after buying an additional 201,770 shares during the period. KBC Group NV lifted its position in Energy Recovery by 14.1% in the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after acquiring an additional 153,381 shares in the last quarter. Finally, Roubaix Capital LLC bought a new stake in shares of Energy Recovery in the second quarter valued at about $1,841,000. 83.58% of the stock is owned by institutional investors.

Insider Activity

In other Energy Recovery 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 transaction, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,565,204.97. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is owned by insiders.

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.