Energy Recovery, Inc. (NASDAQ:ERII) Receives Consensus Rating of “Buy” from Brokerages

Energy Recovery, Inc. (NASDAQ:ERII) has earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.75.

Several analysts have issued reports on ERII shares. Scotiabank started coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, StockNews.com upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday.

Insider Activity

In related news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently bought and sold shares of ERII. Nebula Research & Development LLC increased its holdings in shares of Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after buying an additional 687 shares during the last quarter. Manchester Capital Management LLC grew its position in Energy Recovery by 2.9% in the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 830 shares in the last quarter. DnB Asset Management AS increased its stake in Energy Recovery by 2.9% in the fourth quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company’s stock valued at $550,000 after acquiring an additional 1,050 shares during the last quarter. Nordea Investment Management AB raised its position in Energy Recovery by 1.3% during the fourth quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock valued at $1,859,000 after purchasing an additional 1,618 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Energy Recovery by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock worth $1,440,000 after purchasing an additional 1,808 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Trading Down 1.4 %

ERII stock opened at $15.95 on Friday. The stock has a market cap of $876.53 million, a P/E ratio of 46.91 and a beta of 1.21. The stock’s fifty day simple moving average is $15.33 and its two-hundred day simple moving average is $16.19. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $67.39 million. As a group, analysts forecast that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

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.