Energy Recovery, Inc. (ERII) Receives $13.00 Average PT from Analysts

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned an average rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.00.

Several research firms have weighed in on ERII. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a report on Wednesday, September 19th. TheStreet cut shares of Energy Recovery from a “b-” rating to a “c+” rating in a report on Friday, December 28th. ValuEngine cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. BidaskClub raised shares of Energy Recovery from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Finally, Seaport Global Securities cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Friday, December 7th.

In related news, Director Arve Hanstveit sold 45,708 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $9.15, for a total transaction of $418,228.20. Following the sale, the director now owns 1,113,945 shares in the company, valued at approximately $10,192,596.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of ERII. Trigran Investments Inc. boosted its position in Energy Recovery by 188.6% in the third quarter. Trigran Investments Inc. now owns 818,793 shares of the industrial products company’s stock valued at $7,328,000 after buying an additional 535,098 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Energy Recovery by 11.9% during the second quarter. BlackRock Inc. now owns 2,458,180 shares of the industrial products company’s stock worth $19,861,000 after purchasing an additional 261,516 shares during the period. Millennium Management LLC bought a new position in Energy Recovery during the second quarter worth $1,041,000. Quantum Capital Management raised its stake in Energy Recovery by 105.5% during the third quarter. Quantum Capital Management now owns 132,439 shares of the industrial products company’s stock worth $1,185,000 after buying an additional 67,990 shares during the last quarter. Finally, Alps Advisors Inc. bought a new position in Energy Recovery during the third quarter worth $476,000. Hedge funds and other institutional investors own 33.82% of the company’s stock.

Shares of NASDAQ:ERII opened at $7.68 on Friday. Energy Recovery has a 52-week low of $6.17 and a 52-week high of $10.25. The stock has a market capitalization of $407.20 million, a P/E ratio of 109.71 and a beta of 5.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.22 and a quick ratio of 3.99.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Friday, November 2nd. The industrial products company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $22.20 million for the quarter, compared to analysts’ expectations of $20.63 million. Energy Recovery had a net margin of 48.60% and a return on equity of 12.63%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts expect that Energy Recovery will post 0.18 EPS for the current year.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

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