Energy Recovery, Inc. (ERII) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Energy Recovery, Inc. (NASDAQ:ERII) have been assigned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.50.

Several equities research analysts have weighed in on ERII shares. Jefferies Group restated a “buy” rating and set a $14.00 price target on shares of Energy Recovery in a report on Wednesday, December 20th. B. Riley upped their price target on Energy Recovery from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. BidaskClub downgraded Energy Recovery from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 31st. Zacks Investment Research downgraded Energy Recovery from a “strong-buy” rating to a “sell” rating in a report on Monday, January 8th. Finally, ValuEngine upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd.

In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the completion of the sale, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hans Peter Michelet sold 50,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $8.91, for a total value of $445,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,117 shares of company stock worth $545,787. 23.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in Energy Recovery by 64.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock worth $4,920,000 after acquiring an additional 233,625 shares during the period. Heartland Advisors Inc. lifted its position in Energy Recovery by 183.3% during the 3rd quarter. Heartland Advisors Inc. now owns 850,000 shares of the industrial products company’s stock worth $6,715,000 after acquiring an additional 550,000 shares during the period. Arlington Financial Advisors LLC acquired a new stake in Energy Recovery during the 4th quarter worth approximately $1,003,000. Neuberger Berman Group LLC lifted its position in Energy Recovery by 200.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 60,000 shares of the industrial products company’s stock worth $474,000 after acquiring an additional 40,000 shares during the period. Finally, D.A. Davidson & CO. lifted its position in Energy Recovery by 20.1% during the 3rd quarter. D.A. Davidson & CO. now owns 87,400 shares of the industrial products company’s stock worth $690,000 after acquiring an additional 14,600 shares during the period. 36.37% of the stock is owned by institutional investors.

Energy Recovery (NASDAQ ERII) traded down $0.09 on Tuesday, reaching $7.80. The company had a trading volume of 281,500 shares, compared to its average volume of 343,695. Energy Recovery has a 1 year low of $6.13 and a 1 year high of $11.30. The firm has a market cap of $418.04, a price-to-earnings ratio of 125.83 and a beta of 5.47.

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Energy Recovery Company Profile

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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