Energy Recovery, Inc. (NASDAQ:ERII) Receives $20.75 Average PT from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has received a consensus rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.75.

A number of brokerages recently issued reports on ERII. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock. Evercore ISI reduced their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Finally, B. Riley reduced their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 4,207 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the transaction, the senior vice president now directly owns 106,367 shares of the company’s stock, valued at $2,133,722.02. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now directly owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,825 shares of company stock valued at $814,152 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. KBC Group NV raised its position in Energy Recovery by 14.1% during the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after purchasing an additional 153,381 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Energy Recovery by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after acquiring an additional 56,306 shares in the last quarter. Barclays PLC raised its position in shares of Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after acquiring an additional 76,393 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Energy Recovery in the 3rd quarter worth about $15,237,000. Finally, Summit Global Investments bought a new position in shares of Energy Recovery in the 3rd quarter worth about $939,000. 83.58% of the stock is owned by institutional investors.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $14.33 on Friday. The company has a market capitalization of $829.56 million, a P/E ratio of 42.15 and a beta of 1.18. Energy Recovery has a 1 year low of $12.26 and a 1 year high of $20.27. The business’s 50 day simple moving average is $15.25 and its 200 day simple moving average is $16.37.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, sell-side analysts anticipate that Energy Recovery will post 0.36 EPS for the current fiscal year.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.