Shares of Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) have been given an average rating of “Hold” by the five research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.00.
Several research analysts recently commented on ERII shares. Wall Street Zen downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Seaport Research Partners reaffirmed a “buy” rating and issued a $12.00 price target on shares of Energy Recovery in a research report on Wednesday, May 13th. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Weiss Ratings downgraded Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th.
Read Our Latest Research Report on Energy Recovery
Energy Recovery Stock Down 2.0%
Energy Recovery (NASDAQ:ERII – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). The firm had revenue of $9.71 million during the quarter, compared to analyst estimates of $8.37 million. Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%. Research analysts predict that Energy Recovery will post -0.17 EPS for the current fiscal year.
Insider Activity at Energy Recovery
In related news, Director Pamela L. Tondreau acquired 20,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $8.34 per share, for a total transaction of $166,800.00. Following the completion of the purchase, the director owned 37,362 shares in the company, valued at approximately $311,599.08. The trade was a 115.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Colin R. Sabol bought 11,180 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $8.88 per share, for a total transaction of $99,278.40. Following the transaction, the director directly owned 55,671 shares of the company’s stock, valued at $494,358.48. This trade represents a 25.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 3.20% of the company’s stock.
Institutional Trading of Energy Recovery
Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP lifted its stake in shares of Energy Recovery by 167.4% in the fourth quarter. GSA Capital Partners LLP now owns 109,307 shares of the industrial products company’s stock valued at $1,475,000 after buying an additional 68,431 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Energy Recovery by 23.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 308,006 shares of the industrial products company’s stock valued at $4,749,000 after acquiring an additional 59,078 shares during the period. SG Americas Securities LLC increased its stake in Energy Recovery by 124.7% during the first quarter. SG Americas Securities LLC now owns 364,337 shares of the industrial products company’s stock valued at $3,669,000 after acquiring an additional 202,221 shares during the period. Vanguard Group Inc. raised its holdings in Energy Recovery by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,852,438 shares of the industrial products company’s stock valued at $51,969,000 after acquiring an additional 89,696 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new position in Energy Recovery in the 4th quarter valued at approximately $1,498,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.
About Energy Recovery
Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.
In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.
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