Energy Recovery, Inc. (NASDAQ:ERII) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $15.00.

A number of brokerages have commented on ERII. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Loop Capital set a $13.00 price objective on Energy Recovery in a research report on Monday, March 2nd. Northcoast Research lowered Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings lowered Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $9.42 on Friday. Energy Recovery has a one year low of $7.83 and a one year high of $18.32. The firm has a market capitalization of $485.51 million, a PE ratio of 24.79 and a beta of 0.94. The business has a 50-day moving average price of $9.43 and a two-hundred day moving average price of $11.90.

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

Insider Activity

In other news, Director Colin R. Sabol purchased 11,180 shares of Energy Recovery stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the acquisition, the director directly owned 55,671 shares in the company, valued at $494,358.48. This represents a 25.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela L. Tondreau purchased 20,000 shares of Energy Recovery stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the acquisition, the director owned 37,362 shares in the company, valued at $311,599.08. The trade was a 115.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors have recently made changes to their positions in ERII. Wexford Capital LP acquired a new stake in shares of Energy Recovery during the 3rd quarter valued at about $27,000. Hantz Financial Services Inc. lifted its holdings in shares of Energy Recovery by 2,581.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,931 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,859 shares during the last quarter. Parallel Advisors LLC acquired a new stake in shares of Energy Recovery during the 4th quarter valued at about $38,000. Group One Trading LLC acquired a new stake in shares of Energy Recovery during the 1st quarter valued at about $41,000. Finally, Comerica Bank lifted its holdings in shares of Energy Recovery by 150.5% during the 4th quarter. Comerica Bank now owns 3,868 shares of the industrial products company’s stock valued at $52,000 after buying an additional 2,324 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.