Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) has received a consensus rating of “Hold” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One 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 price objective among brokerages that have covered the stock in the last year is $15.00.
Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Northcoast Research cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings lowered shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Seaport Research Partners reaffirmed a “buy” rating and set a $12.00 price target on shares of Energy Recovery in a report on Wednesday, May 13th. Finally, Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th.
Check Out Our Latest Report on Energy Recovery
Insider Activity at Energy Recovery
Institutional Trading of Energy Recovery
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi boosted its stake in Energy Recovery by 323.6% during the fourth quarter. Amundi now owns 2,851,691 shares of the industrial products company’s stock valued at $38,457,000 after buying an additional 2,178,560 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in Energy Recovery in the 4th quarter valued at about $5,086,000. State Street Corp boosted its position in shares of Energy Recovery by 22.6% during the 4th quarter. State Street Corp now owns 1,764,522 shares of the industrial products company’s stock valued at $23,803,000 after purchasing an additional 325,280 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Energy Recovery by 32.2% in the 3rd quarter. Legal & General Group Plc now owns 1,307,738 shares of the industrial products company’s stock worth $20,165,000 after purchasing an additional 318,584 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Energy Recovery by 146.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 459,425 shares of the industrial products company’s stock worth $5,871,000 after purchasing an additional 272,648 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.
Energy Recovery Stock Performance
Shares of Energy Recovery stock opened at $8.65 on Monday. The business’s 50 day simple moving average is $8.60 and its 200-day simple moving average is $10.72. The stock has a market capitalization of $445.82 million, a price-to-earnings ratio of 22.76 and a beta of 0.91. Energy Recovery has a twelve month low of $7.83 and a twelve month high of $18.32.
Energy Recovery (NASDAQ:ERII – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The company had revenue of $9.71 million during the quarter, compared to the consensus estimate of $8.37 million. Sell-side analysts predict that Energy Recovery will post -0.17 earnings per share for the current year.
Energy Recovery Company Profile
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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