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

Energy Recovery, Inc. (NASDAQ:ERII) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.33.

Several analysts have weighed in on the company. Evercore ISI reiterated a “buy” rating and set a $18.00 price target on shares of Energy Recovery in a research note on Thursday, August 8th. TheStreet upgraded Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. B. Riley set a $15.00 target price on Energy Recovery and gave the stock a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, ValuEngine downgraded Energy Recovery from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st.

In other news, VP Rodney Clemente sold 36,946 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $11.92, for a total value of $440,396.32. Following the sale, the vice president now owns 81,299 shares in the company, valued at $969,084.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hans Peter Michelet sold 20,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $9.92, for a total value of $198,400.00. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $148,800. The disclosure for this sale can be found here. Insiders sold 67,635 shares of company stock worth $746,307 in the last 90 days. Company insiders own 23.80% of the company’s stock.



A number of hedge funds have recently modified their holdings of ERII. ETF Managers Group LLC raised its holdings in shares of Energy Recovery by 9.8% during the first quarter. ETF Managers Group LLC now owns 17,413 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 1,548 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Energy Recovery by 0.5% during the second quarter. Northern Trust Corp now owns 454,372 shares of the industrial products company’s stock valued at $4,735,000 after acquiring an additional 2,157 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Energy Recovery by 44.4% during the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 2,294 shares during the last quarter. SFE Investment Counsel raised its holdings in shares of Energy Recovery by 27.5% during the second quarter. SFE Investment Counsel now owns 19,951 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 4,303 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Energy Recovery by 18.6% during the second quarter. Wells Fargo & Company MN now owns 28,924 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 4,542 shares during the last quarter. Institutional investors own 32.28% of the company’s stock.

Energy Recovery stock traded down $0.45 during trading hours on Friday, hitting $8.73. 337,418 shares of the stock traded hands, compared to its average volume of 278,205. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.09 and a quick ratio of 4.76. The firm’s 50 day moving average price is $10.43 and its 200-day moving average price is $9.57. The stock has a market capitalization of $505.67 million, a price-to-earnings ratio of 43.65 and a beta of 4.32. Energy Recovery has a 1 year low of $6.17 and a 1 year high of $12.04.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $22.80 million for the quarter, compared to the consensus estimate of $20.53 million. Energy Recovery had a return on equity of 10.89% and a net margin of 20.21%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. Research analysts forecast that Energy Recovery will post 0.13 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. 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 small- to medium-sized desalination plants.

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