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

Energy Recovery, Inc. (NASDAQ:ERII) has received a consensus recommendation of “Reduce” from the four brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.67.

A number of equities research analysts recently weighed in on ERII shares. Seaport Research Partners cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Monday, September 14th. Weiss Ratings downgraded Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, September 16th. Finally, B. Riley Financial cut their price target on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th.

Insider Activity

In other news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the sale, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Energy Recovery during the second quarter worth approximately $57,225,000. Legal & General Group Plc acquired a new stake in shares of Energy Recovery during the second quarter worth approximately $18,579,000. Amundi increased its holdings in shares of Energy Recovery by 31.2% in the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock valued at $37,648,000 after acquiring an additional 888,618 shares during the last quarter. Kopion Asset Management LLC grew its position in shares of 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 valued at $6,791,000 after buying an additional 378,588 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Energy Recovery by 124.7% in the 1st quarter. SG Americas Securities LLC now owns 364,337 shares of the industrial products company’s stock worth $3,669,000 after purchasing an additional 202,221 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Price Performance

Shares of Energy Recovery stock traded up $0.01 on Friday, reaching $6.65. 888,169 shares of the company were exchanged, compared to its average volume of 836,892. The company has a market cap of $342.74 million, a P/E ratio of 23.75 and a beta of 0.91. The stock’s 50 day moving average price is $7.32 and its 200-day moving average price is $8.56. Energy Recovery has a 1-year low of $6.60 and a 1-year high of $18.32.

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

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) develops and manufactures energy recovery and fluid-flow solutions for industrial applications. Its technologies are designed to capture and reuse hydraulic energy, helping customers reduce power consumption, operating costs, and environmental impact.

The company is best known for its PX Pressure Exchanger technology, which transfers pressure energy between fluid streams with high efficiency. The products are used primarily in seawater and industrial wastewater desalination, where they help reduce the energy required for reverse-osmosis systems.