Analysts Set Energy Recovery, Inc. (ERII) Price Target at $13.00

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been given an average recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $13.00.

A number of analysts have weighed in on ERII shares. BidaskClub raised shares of Energy Recovery from a “strong sell” rating to a “sell” rating in a research note on Monday, January 7th. B. Riley reaffirmed a “buy” rating on shares of Energy Recovery in a research note on Friday, December 28th. JMP Securities reaffirmed a “buy” rating and set a $13.00 target price on shares of Energy Recovery in a research note on Monday, March 11th. ValuEngine raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, Seaport Global Securities cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Friday, December 7th.

In related news, insider Lenox Sharon E. Smith sold 12,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $9.00, for a total value of $112,500.00. Following the sale, the insider now owns 24,182 shares of the company’s stock, valued at $217,638. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Emily Smith sold 10,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the completion of the sale, the vice president now directly owns 66,776 shares in the company, valued at approximately $534,208. The disclosure for this sale can be found here. In the last three months, insiders sold 214,578 shares of company stock worth $1,843,726. 23.80% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. ETF Managers Group LLC grew its stake in shares of Energy Recovery by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2,163 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Energy Recovery by 44.4% in the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 2,294 shares during the last quarter. Northern Trust Corp grew its stake in shares of Energy Recovery by 0.7% in the fourth quarter. Northern Trust Corp now owns 456,306 shares of the industrial products company’s stock worth $3,070,000 after purchasing an additional 3,041 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Energy Recovery by 39.4% in the third quarter. MetLife Investment Advisors LLC now owns 25,079 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 7,083 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Energy Recovery by 262.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 7,083 shares during the last quarter. 34.43% of the stock is currently owned by institutional investors.

NASDAQ ERII opened at $8.73 on Wednesday. The firm has a market cap of $468.03 million, a price-to-earnings ratio of 45.53 and a beta of 4.81. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $10.25. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.11.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Thursday, March 7th. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $17.71 million for the quarter, compared to analysts’ expectations of $15.68 million. Energy Recovery had a net margin of 36.99% and a return on equity of 10.25%. As a group, sell-side analysts predict that Energy Recovery will post 0.26 earnings per share for the current year.

Energy Recovery Company Profile

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. 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 small- to medium-sized desalination plants.

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