Energy Recovery, Inc. (NASDAQ:ERII) Receives Average Rating of “Hold” from Analysts

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given a consensus rating of “Hold” by the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.00.

A number of equities research analysts recently commented on ERII shares. Weiss Ratings downgraded Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Seaport Research Partners reaffirmed a “buy” rating and set a $12.00 target price on shares of Energy Recovery in a report on Wednesday, May 13th. Wall Street Zen downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Finally, Loop Capital set a $13.00 price objective on Energy Recovery in a research note on Monday, March 2nd.

Energy Recovery Stock Up 1.7%

Energy Recovery stock opened at $8.33 on Friday. Energy Recovery has a 52 week low of $7.83 and a 52 week high of $18.32. The company has a market capitalization of $429.33 million, a price-to-earnings ratio of 21.92 and a beta of 0.94. The stock has a 50-day moving average price of $9.57 and a 200 day moving average price of $12.09.

Energy Recovery (NASDAQ:ERII) last released its earnings results 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 firm 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 fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 165,292 shares of Energy Recovery stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $10.14, for a total transaction of $1,676,060.88. Following the completion of the transaction, the director owned 384,928 shares in the company, valued at approximately $3,903,169.92. This trade represents a 30.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pamela L. Tondreau acquired 20,000 shares of Energy Recovery stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $8.34 per share, with a total value of $166,800.00. Following the purchase, the director directly owned 37,362 shares in the company, valued at approximately $311,599.08. The trade was a 115.19% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors have recently modified their holdings of ERII. Wexford Capital LP purchased a new position in shares of Energy Recovery during the 3rd quarter valued at about $27,000. Hantz Financial Services Inc. raised its stake 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 purchased a new position in shares of Energy Recovery during the 4th quarter valued at about $38,000. Group One Trading LLC purchased a new position in shares of Energy Recovery during the 1st quarter valued at about $41,000. Finally, Comerica Bank raised its stake 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. Hedge funds and other institutional investors own 83.58% of the company’s stock.

About Energy Recovery

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.