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

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.75.

Separately, StockNews.com raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $15.40 on Wednesday. The firm has a market cap of $843.24 million, a price-to-earnings ratio of 45.29 and a beta of 1.05. The stock has a 50-day simple moving average of $15.42 and a 200-day simple moving average of $15.84. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities research analysts predict that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now directly owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in Energy Recovery during the first quarter worth about $430,000. Clear Creek Financial Management LLC lifted its position in shares of Energy Recovery by 5.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 850 shares during the period. Juncture Wealth Strategies LLC acquired a new stake in shares of Energy Recovery during the 1st quarter worth approximately $178,000. Rhumbline Advisers increased its position in shares of Energy Recovery by 7.5% during the first quarter. Rhumbline Advisers now owns 83,125 shares of the industrial products company’s stock valued at $1,321,000 after purchasing an additional 5,781 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Energy Recovery by 4.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company’s stock valued at $2,735,000 after purchasing an additional 8,076 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

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.