Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Average Target Price from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.75.

Several research analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Evercore ISI lowered their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Scotiabank assumed coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Energy Recovery Stock Down 0.1 %

Energy Recovery stock opened at $14.70 on Monday. The stock has a market cap of $851.04 million, a PE ratio of 43.24 and a beta of 1.18. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27. The business’s 50-day moving average price is $16.67 and its two-hundred day moving average price is $16.13.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, analysts expect that Energy Recovery will post 0.39 earnings per share for the current year.

Insider Activity

In related news, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the sale, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. This trade represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,406 shares of company stock valued at $1,166,088. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in Energy Recovery by 13.0% during the second quarter. Bank of New York Mellon Corp now owns 205,786 shares of the industrial products company’s stock worth $2,735,000 after purchasing an additional 23,660 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Energy Recovery by 12.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company’s stock worth $283,000 after buying an additional 2,398 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Energy Recovery by 82.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock worth $3,640,000 after buying an additional 123,664 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery in the 2nd quarter valued at $26,000. Finally, Van ECK Associates Corp lifted its position in shares of Energy Recovery by 23.6% during the 2nd quarter. Van ECK Associates Corp now owns 122,783 shares of the industrial products company’s stock valued at $1,632,000 after acquiring an additional 23,449 shares during the period. 83.58% of the stock is owned by institutional investors.

Energy Recovery Company Profile

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.