Energy Recovery (NASDAQ:ERII) Announces Quarterly Earnings Results

Energy Recovery (NASDAQ:ERII) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03, FiscalAI reports. The company had revenue of $32.00 million for the quarter, compared to the consensus estimate of $29.94 million. Energy Recovery had a return on equity of 11.67% and a net margin of 17.02%. Energy Recovery updated its FY 2025 guidance to EPS.

Energy Recovery Trading Down 16.0%

ERII stock traded down $2.77 during trading on Thursday, reaching $14.49. 1,153,434 shares of the stock were exchanged, compared to its average volume of 424,799. Energy Recovery has a twelve month low of $10.86 and a twelve month high of $20.27. The company has a market capitalization of $770.84 million, a P/E ratio of 34.50 and a beta of 1.10. The stock has a 50 day simple moving average of $15.66 and a 200-day simple moving average of $14.20.

Insiders Place Their Bets

In related news, insider William Yeung sold 9,168 shares of Energy Recovery stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $18.00, for a total transaction of $165,024.00. Following the sale, the insider directly owned 97,369 shares of the company’s stock, valued at $1,752,642. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 72,333 shares of company stock worth $1,122,195 over the last 90 days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors have recently added to or reduced their stakes in ERII. Royal Bank of Canada boosted its holdings in Energy Recovery by 43.1% during the first quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 4,899 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Energy Recovery during the first quarter valued at approximately $341,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Energy Recovery by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock valued at $714,000 after purchasing an additional 3,185 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Energy Recovery by 10.7% during the first 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 valued at $3,274,000 after purchasing an additional 19,992 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Energy Recovery by 54.4% during the first quarter. Jane Street Group LLC now owns 122,369 shares of the industrial products company’s stock valued at $1,944,000 after purchasing an additional 43,089 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ERII has been the topic of a number of research analyst reports. CJS Securities began coverage on Energy Recovery in a report on Tuesday, September 16th. They issued a “market outperform” rating and a $19.00 target price on the stock. B. Riley reaffirmed a “neutral” rating on shares of Energy Recovery in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Energy Recovery in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $18.75.

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.