Energy Recovery, Inc. (NASDAQ:ERII – Get Free Report) has received a consensus rating of “Reduce” from the four brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.67.
Several research firms have issued reports on ERII. Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 16th. Seaport Research Partners downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Monday, September 14th. Finally, B. Riley Financial lowered their price objective on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th.
View Our Latest Stock Report on ERII
Energy Recovery Trading Up 0.1%
NASDAQ ERII opened at $6.68 on Friday. The firm has a market cap of $344.29 million, a PE ratio of 23.82 and a beta of 0.91. Energy Recovery has a 1-year low of $6.55 and a 1-year high of $18.32. The stock has a 50-day moving average of $7.19 and a 200-day moving average of $8.44.
Energy Recovery (NASDAQ:ERII – Get Free Report) last announced its earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. The business had revenue of $12.00 million for the quarter, compared to the consensus estimate of $18.36 million. As a group, equities research analysts forecast that Energy Recovery will post -0.17 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the sale, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Energy Recovery
Institutional investors have recently modified their holdings of the stock. Isthmus Partners LLC raised its holdings in shares of Energy Recovery by 3.2% in the third quarter. Isthmus Partners LLC now owns 166,689 shares of the industrial products company’s stock valued at $1,112,000 after acquiring an additional 5,242 shares in the last quarter. Kopion Asset Management LLC lifted its position in shares of Energy Recovery by 59.2% in the 3rd quarter. Kopion Asset Management LLC now owns 1,018,133 shares of the industrial products company’s stock worth $6,791,000 after purchasing an additional 378,588 shares during the period. Versant Capital Management Inc boosted its stake in shares of Energy Recovery by 737.6% during the third quarter. Versant Capital Management Inc now owns 5,252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 4,625 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Energy Recovery during the 2nd quarter worth $190,000. Finally, NewEdge Advisors LLC purchased a new position in Energy Recovery in the second quarter valued at about $518,000. 83.58% of the stock is owned by hedge funds and other institutional investors.
Energy Recovery Company Profile
Energy Recovery, Inc develops and manufactures energy-efficiency technologies for industrial fluid-flow applications. The company is best known for its pressure exchanger systems, which capture hydraulic energy from high-pressure fluid streams and transfer it to lower-pressure incoming fluids. This process can reduce energy consumption and operating costs in demanding industrial environments.
Energy Recovery’s products are used extensively in seawater and brackish-water reverse-osmosis desalination, where its PX Pressure Exchanger technology helps recover energy from the high-pressure reject stream.
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