Energy Recovery, Inc. (ERII) Receives Average Recommendation of “Hold” from Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.00.

ERII has been the topic of a number of recent research reports. ValuEngine lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 18th. BidaskClub lowered shares of Energy Recovery from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. B. Riley reaffirmed a “buy” rating on shares of Energy Recovery in a research note on Friday, December 28th. Finally, Seaport Global Securities lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Friday, December 7th.

In other Energy Recovery news, Director Arve Hanstveit sold 45,708 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $9.15, for a total value of $418,228.20. Following the transaction, the director now directly owns 1,113,945 shares of the company’s stock, valued at $10,192,596.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.80% of the stock is currently owned by company insiders.



Several institutional investors and hedge funds have recently added to or reduced their stakes in ERII. Trexquant Investment LP bought a new position in shares of Energy Recovery during the third quarter valued at about $115,000. Alambic Investment Management L.P. bought a new position in shares of Energy Recovery during the third quarter valued at about $166,000. Fox Run Management L.L.C. bought a new position in shares of Energy Recovery during the third quarter valued at about $167,000. MetLife Investment Advisors LLC lifted its position in shares of Energy Recovery by 39.4% during the third quarter. MetLife Investment Advisors LLC now owns 25,079 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 7,083 shares in the last quarter. Finally, Jefferies Group LLC lifted its position in shares of Energy Recovery by 150.0% during the third quarter. Jefferies Group LLC now owns 27,800 shares of the industrial products company’s stock valued at $249,000 after purchasing an additional 16,681 shares in the last quarter. 33.82% of the stock is currently owned by institutional investors.

NASDAQ:ERII traded up $0.04 during trading hours on Friday, reaching $7.64. The company had a trading volume of 2,395 shares, compared to its average volume of 270,632. The company has a current ratio of 4.22, a quick ratio of 3.99 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $407.20 million, a price-to-earnings ratio of 109.43 and a beta of 5.10. Energy Recovery has a twelve month low of $6.17 and a twelve month high of $10.25.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Friday, November 2nd. The industrial products company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $22.20 million during the quarter, compared to analysts’ expectations of $20.63 million. Energy Recovery had a net margin of 48.60% and a return on equity of 12.63%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted $0.03 earnings per share. Equities analysts predict that Energy Recovery will post 0.18 earnings per share for the current fiscal year.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

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