Energy Recovery (NASDAQ:ERII) Price Target Cut to $12.00 by Analysts at B. Riley

Energy Recovery (NASDAQ:ERII) had its price objective decreased by B. Riley from $13.00 to $12.00 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Energy Recovery from a sell rating to a hold rating in a research report on Tuesday, March 17th. BidaskClub upgraded Energy Recovery from a sell rating to a hold rating in a research note on Friday, December 13th. Finally, Evercore ISI downgraded Energy Recovery to a hold rating in a research note on Tuesday, March 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $13.60.

Shares of NASDAQ ERII traded up $0.13 during midday trading on Monday, hitting $7.26. 266,000 shares of the company’s stock were exchanged, compared to its average volume of 231,236. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.06 and a quick ratio of 3.69. Energy Recovery has a twelve month low of $6.11 and a twelve month high of $12.04. The company has a market cap of $398.42 million, a PE ratio of 36.30 and a beta of 3.84. The firm’s fifty day simple moving average is $9.40 and its 200-day simple moving average is $9.49.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Thursday, March 5th. The industrial products company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Energy Recovery had a return on equity of 7.68% and a net margin of 14.98%. The business had revenue of $15.78 million for the quarter, compared to analyst estimates of $17.70 million. Equities analysts anticipate that Energy Recovery will post 0.18 EPS for the current fiscal year.

In related news, SVP Emily Smith sold 7,683 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $11.02, for a total transaction of $84,666.66. Following the transaction, the senior vice president now owns 46,357 shares in the company, valued at approximately $510,854.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arve Hanstveit sold 14,818 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $8.69, for a total value of $128,768.42. Following the transaction, the director now owns 1,110,618 shares in the company, valued at approximately $9,651,270.42. The disclosure for this sale can be found here. Insiders have sold a total of 40,553 shares of company stock worth $401,839 in the last 90 days. 23.80% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Energy Recovery by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 484,728 shares of the industrial products company’s stock valued at $4,745,000 after purchasing an additional 21,100 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Energy Recovery in the 4th quarter valued at approximately $129,000. Bank of New York Mellon Corp grew its stake in shares of Energy Recovery by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,471,989 shares of the industrial products company’s stock valued at $14,411,000 after purchasing an additional 74,685 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Energy Recovery by 214.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 62,602 shares of the industrial products company’s stock valued at $612,000 after purchasing an additional 42,676 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Energy Recovery by 10.2% in the 4th quarter. UBS Group AG now owns 96,015 shares of the industrial products company’s stock valued at $940,000 after purchasing an additional 8,852 shares during the last quarter. Institutional investors own 35.45% of the company’s stock.

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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