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

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have received an average recommendation of “Reduce” from the four ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.6667.

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

Energy Recovery Stock Performance

ERII stock opened at $7.03 on Tuesday. The firm has a market cap of $362.36 million, a PE ratio of 25.11 and a beta of 0.90. Energy Recovery has a one year low of $6.89 and a one year high of $18.32. The firm’s 50 day moving average price is $8.00 and its 200-day moving average price is $9.01.

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

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were 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 in the company, valued at $927,056.56. This trade represents 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 this link. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Large investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in Energy Recovery in the second quarter valued at $33,000. Group One Trading LLC purchased a new position in Energy Recovery in the first quarter valued at about $41,000. S&CO Inc. lifted 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 valued at $130,000 after acquiring an additional 1,000 shares during the period. Aristides Capital LLC acquired a new stake in shares of Energy Recovery during the 4th quarter valued at approximately $182,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Energy Recovery in the 2nd quarter valued at approximately $132,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Company Profile

Energy Recovery, Inc develops and manufactures energy-recovery and fluid-management technologies for industrial applications. The company is best known for its PX Pressure Exchanger, which transfers hydraulic energy from high-pressure reject streams to incoming feedwater, helping reduce the energy requirements of seawater and brackish-water desalination systems.

Its products and related technologies are used in municipal and industrial water treatment, desalination, oil and gas, chemical processing, and other applications involving high-pressure fluids.