Energy Recovery, Inc. (NASDAQ:ERII) Stock Has Consensus Price Target of $11.67

Energy Recovery, Inc. (NASDAQ:ERII) has earned an average rating of “Reduce” from the five research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.67.

ERII has been the topic of a number of recent research reports. B. Riley Financial cut their price target on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Seaport Research Partners lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Monday, September 14th. Weiss Ratings lowered shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, September 16th. Wall Street Zen cut shares of Energy Recovery from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Zacks Research downgraded shares of Energy Recovery from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 4th.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Energy Recovery during the second quarter worth $57,225,000. Legal & General Group Plc purchased a new position in Energy Recovery in the second quarter valued at $18,579,000. Amundi boosted its holdings in Energy Recovery by 31.2% in the first quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock valued at $37,648,000 after purchasing an additional 888,618 shares during the period. Kopion Asset Management LLC grew its stake in Energy Recovery by 59.2% during the 3rd quarter. Kopion Asset Management LLC now owns 1,018,133 shares of the industrial products company’s stock worth $6,791,000 after purchasing an additional 378,588 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Energy Recovery by 47.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock worth $5,177,000 after purchasing an additional 165,915 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Trading Down 0.8%

ERII stock opened at $7.33 on Wednesday. The company has a market capitalization of $372.07 million, a PE ratio of 81.44 and a beta of 0.89. Energy Recovery has a 12-month low of $6.24 and a 12-month high of $16.30. The business’s fifty day moving average price is $7.00 and its 200 day moving average price is $9.38.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, November 4th. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Energy Recovery had a return on equity of 2.82% and a net margin of 5.15%. The firm had revenue of $11.20 million for the quarter, compared to analyst estimates of $16.16 million. Research analysts predict that Energy Recovery will post -0.17 EPS for the current fiscal year.

About Energy Recovery

Energy Recovery, Inc. develops and manufactures energy-efficiency technologies for industrial fluid-flow applications. The company is best known for its pressure exchanger systems, which capture hydraulic energy from high-pressure fluid streams and transfer it to lower-pressure incoming fluids. This process can reduce energy consumption and operating costs in demanding industrial environments. Energy Recovery’s products are used extensively in seawater and brackish-water reverse-osmosis desalination, where its PX Pressure Exchanger technology helps recover energy from the high-pressure reject stream.