Seaport Research Partners Reaffirms “Neutral” Rating for Energy Recovery (NASDAQ:ERII)

Energy Recovery (NASDAQ:ERII)‘s stock had its “neutral” rating reaffirmed by equities researchers at Seaport Research Partners in a research note issued on Monday, Marketbeat.com reports.

ERII has been the subject of a number of other reports. Weiss Ratings raised shares of Energy Recovery from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 2nd. B. Riley Financial lowered their target price on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Energy Recovery Price Performance

NASDAQ ERII opened at $7.55 on Monday. The firm has a market capitalization of $389.13 million, a PE ratio of 26.96 and a beta of 0.90. The stock’s 50 day moving average is $8.21 and its 200 day moving average is $9.23. Energy Recovery has a twelve month low of $7.25 and a twelve month high of $18.32.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $12.00 million during the quarter, compared to the consensus estimate of $18.36 million. Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%. On average, research analysts anticipate that Energy Recovery will post -0.17 earnings per share for the current year.

Insider Activity

In related news, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total transaction of $46,112.72. Following the sale, the senior vice president directly owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. S&CO Inc. boosted its position in shares of Energy Recovery by 8.3% during the 1st quarter. S&CO Inc. now owns 13,000 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 1,000 shares in the last quarter. Aviva PLC lifted its position in shares of Energy Recovery by 4.9% during the 4th quarter. Aviva PLC now owns 33,974 shares of the industrial products company’s stock valued at $458,000 after acquiring an additional 1,599 shares during the period. Wexford Capital LP purchased a new stake in shares of Energy Recovery during the 3rd quarter worth approximately $27,000. Cary Street Partners Financial LLC lifted its stake in shares of Energy Recovery by 3.7% during the 4th quarter. Cary Street Partners Financial LLC now owns 54,749 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 1,977 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Energy Recovery by 6.0% in the fourth quarter. Russell Investments Group Ltd. now owns 36,225 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 2,051 shares during the period. 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.