Energy Recovery (NASDAQ:ERII) Given New $20.00 Price Target at B. Riley

Energy Recovery (NASDAQ:ERII) had its price objective dropped by stock analysts at B. Riley from $22.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price would suggest a potential upside of 27.88% from the stock’s current price.

Several other equities analysts also recently weighed in on ERII. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Energy Recovery Stock Performance

Shares of Energy Recovery stock opened at $15.64 on Tuesday. The stock has a market cap of $905.40 million, a P/E ratio of 46.00 and a beta of 1.22. The stock’s fifty day moving average is $17.78 and its 200 day moving average is $15.67. Energy Recovery has a one year low of $12.26 and a one year high of $20.27.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Analysts predict that Energy Recovery will post 0.41 EPS for the current year.

Insider Activity

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. This represents a 2.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rodney Clemente sold 19,618 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.00, for a total value of $392,360.00. Following the transaction, the senior vice president now owns 114,205 shares of the company’s stock, valued at approximately $2,284,100. The trade was a 14.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock worth $828,688 over the last quarter. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Vanguard Group Inc. increased its stake in Energy Recovery by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after acquiring an additional 53,720 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after purchasing an additional 56,306 shares in the last quarter. KBC Group NV grew its holdings in shares of Energy Recovery by 14.1% in the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after purchasing an additional 153,381 shares in the last quarter. Alpha Wave Global LP increased its position in Energy Recovery by 93.0% in the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock worth $20,374,000 after purchasing an additional 564,463 shares during the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in Energy Recovery during the third quarter valued at $15,237,000. 83.58% of the stock is owned by institutional investors.

Energy Recovery Company Profile

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.