Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Rating of “Hold” by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat 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 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.00.

A number of research analysts recently commented on the stock. Northcoast Research downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Seaport Research Partners reiterated a “buy” rating and issued a $12.00 target price on shares of Energy Recovery in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. Freedom Capital downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Insider Activity

In other news, Director Pamela L. Tondreau purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $8.34 per share, with a total value of $166,800.00. Following the purchase, the director owned 37,362 shares in the company, valued at $311,599.08. This represents a 115.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Colin R. Sabol acquired 11,180 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $8.88 per share, for a total transaction of $99,278.40. Following the acquisition, the director directly owned 55,671 shares of the company’s stock, valued at $494,358.48. The trade was a 25.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Energy Recovery

Several large investors have recently added to or reduced their stakes in the business. Amundi raised its holdings in shares of Energy Recovery by 323.6% during the 4th quarter. Amundi now owns 2,851,691 shares of the industrial products company’s stock valued at $38,457,000 after purchasing an additional 2,178,560 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in Energy Recovery in the fourth quarter worth $5,086,000. State Street Corp increased its position in Energy Recovery by 22.6% during the fourth quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock worth $23,803,000 after buying an additional 325,280 shares during the last quarter. Legal & General Group Plc increased its position in Energy Recovery by 32.2% during the third quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock worth $20,165,000 after buying an additional 318,584 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Energy Recovery by 146.0% during the second quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company’s stock valued at $5,871,000 after buying an additional 272,648 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Energy Recovery Trading Down 2.0%

Shares of Energy Recovery stock opened at $8.62 on Thursday. The stock has a 50-day moving average price of $8.90 and a 200 day moving average price of $11.37. The company has a market cap of $444.27 million, a P/E ratio of 22.68 and a beta of 0.90. Energy Recovery has a 1 year low of $7.83 and a 1 year high of $18.32.

Energy Recovery (NASDAQ:ERII) last released 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 analysts’ expectations of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. On average, equities analysts forecast that Energy Recovery will post -0.17 earnings per share for the current fiscal 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.