Energy Recovery, Inc. (NASDAQ:ERII) Given Average Recommendation of “Hold” by Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.00.

ERII has been the topic of several research reports. Weiss Ratings lowered shares of Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Seaport Research Partners reiterated a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a research note on Wednesday, May 13th. Freedom Capital cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th.

Insider Transactions at Energy Recovery

In related news, Director Pamela L. Tondreau acquired 20,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly owned 37,362 shares of the company’s stock, valued at approximately $311,599.08. The trade was a 115.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rodney Clemente sold 20,568 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $10.61, for a total transaction of $218,226.48. Following the transaction, the senior vice president owned 116,008 shares in the company, valued at $1,230,844.88. This represents a 15.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 238,551 shares of company stock worth $2,456,512. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Royce & Associates LP acquired a new position in Energy Recovery in the third quarter worth approximately $4,898,000. GSA Capital Partners LLP lifted its position in shares of Energy Recovery by 167.4% during the 4th quarter. GSA Capital Partners LLP now owns 109,307 shares of the industrial products company’s stock valued at $1,475,000 after acquiring an additional 68,431 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Energy Recovery by 23.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 308,006 shares of the industrial products company’s stock worth $4,749,000 after acquiring an additional 59,078 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Energy Recovery by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock worth $51,969,000 after acquiring an additional 89,696 shares during the last quarter. Finally, Isthmus Partners LLC acquired a new position in shares of Energy Recovery in the 4th quarter worth $1,498,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Price Performance

NASDAQ:ERII opened at $8.77 on Wednesday. Energy Recovery has a 12 month low of $8.14 and a 12 month high of $18.32. The firm has a market capitalization of $452.01 million, a PE ratio of 23.08 and a beta of 1.04. The business’s 50-day moving average is $10.03 and its two-hundred day moving average is $12.62.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The business had revenue of $9.71 million for the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. Equities analysts anticipate that Energy Recovery will post -0.17 EPS for the current year.

Energy Recovery Company Profile

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.