Energy Recovery, Inc. (NASDAQ:ERII) Given Consensus Recommendation of “Hold” by Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has received an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.00.

Several equities analysts recently weighed in on the company. Freedom Capital lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings lowered Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Northcoast Research lowered Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Finally, Loop Capital set a $13.00 price target on Energy Recovery in a research note on Monday, March 2nd.

Insider Activity

In other Energy Recovery news, Director Arve Hanstveit sold 165,292 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 384,928 shares in the company, valued at approximately $3,903,169.92. The trade was a 30.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela L. Tondreau acquired 20,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the purchase, the director owned 37,362 shares in the company, valued at $311,599.08. This represents a 115.19% increase in their position. The SEC filing for this purchase provides additional information. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Several large investors have recently bought and sold shares of ERII. Royal Bank of Canada increased its stake in Energy Recovery by 43.1% during the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock worth $258,000 after buying an additional 4,899 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Energy Recovery during the 1st quarter worth approximately $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Energy Recovery by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock worth $714,000 after buying an additional 3,185 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Energy Recovery by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,038 shares of the industrial products company’s stock worth $3,274,000 after buying an additional 19,992 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Energy Recovery by 54.4% during the 1st quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock worth $1,944,000 after buying an additional 43,089 shares in the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Stock Up 1.7%

Shares of Energy Recovery stock opened at $8.33 on Friday. Energy Recovery has a twelve month low of $7.83 and a twelve month high of $18.32. The business has a 50-day moving average price of $9.57 and a 200 day moving average price of $12.09. The firm has a market cap of $429.33 million, a PE ratio of 21.92 and a beta of 0.94.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The business had revenue of $9.71 million during the quarter, compared to analysts’ expectations of $8.37 million. On average, sell-side analysts expect that Energy Recovery will post -0.17 EPS for the current year.

Energy Recovery Company Profile

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.