B. Riley Lowers Energy Recovery (NASDAQ:ERII) Price Target to $20.00

Energy Recovery (NASDAQ:ERII) had its price objective cut by equities research analysts at B. Riley from $22.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley’s price target points to a potential upside of 27.88% from the company’s current price.

Other analysts have also recently issued reports about the company. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Energy Recovery presently has a consensus rating of “Moderate Buy” and an average price target of $20.33.

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $15.64 on Tuesday. The stock has a market capitalization of $905.40 million, a P/E ratio of 46.00 and a beta of 1.22. Energy Recovery has a one year low of $12.26 and a one year high of $20.27. The business’s 50 day simple moving average is $17.78 and its two-hundred day simple moving average is $15.67.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. Sell-side analysts expect that Energy Recovery will post 0.41 earnings per share for the current fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Farshad Ghasripoor sold 10,526 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $189,152.22. Following the sale, the chief technology officer now directly owns 126,961 shares in the company, valued at approximately $2,281,489.17. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,406 shares of company stock worth $828,688. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Hantz Financial Services Inc. bought a new stake in Energy Recovery in the 2nd quarter worth approximately $26,000. CWM LLC grew its holdings in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 4,177 shares during the period. AXA S.A. bought a new position in Energy Recovery in the second quarter valued at about $149,000. ProShare Advisors LLC purchased a new position in Energy Recovery in the first quarter worth about $158,000. Finally, AQR Capital Management LLC grew its stake in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,986 shares during the period. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.