Fintel reports that on October 3, 2023, Raymond James maintained coverage of Energy Recovery (NASDAQ:ERII) with a Outperform recommendation.
Analyst Price Forecast Suggests 51.31% Upside
As of August 31, 2023, the average one-year price target for Energy Recovery is 31.11. The forecasts range from a low of 27.27 to a high of $33.60. The average price target represents an increase of 51.31% from its latest reported closing price of 20.56.
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The projected annual revenue for Energy Recovery is 140MM, an increase of 31.11%. The projected annual non-GAAP EPS is 0.27.
What is the Fund Sentiment?
There are 394 funds or institutions reporting positions in Energy Recovery. This is an increase of 15 owner(s) or 3.96% in the last quarter. Average portfolio weight of all funds dedicated to ERII is 0.24%, an increase of 9.22%. Total shares owned by institutions increased in the last three months by 2.41% to 51,405K shares. 
The put/call ratio of ERII is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Trigran Investments holds 2,488K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 3,520K shares, representing a decrease of 41.45%. The firm increased its portfolio allocation in ERII by 120.88% over the last quarter.
William Blair Investment Management holds 2,224K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 2,577K shares, representing a decrease of 15.87%. The firm decreased its portfolio allocation in ERII by 3.69% over the last quarter.
FIL holds 2,050K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 2,018K shares, representing an increase of 1.55%. The firm increased its portfolio allocation in ERII by 112.70% over the last quarter.
Brown Capital Management holds 1,884K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 119K shares, representing an increase of 93.67%. The firm increased its portfolio allocation in ERII by 1,717.48% over the last quarter.
Avenir holds 1,713K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 1,712K shares, representing an increase of 0.08%. The firm increased its portfolio allocation in ERII by 12.62% over the last quarter.
Energy Recovery Background Information
(This description is provided by the company.)
Energy Recovery creates technologies that solve complex challenges for industrial fluid-flow markets worldwide. Building on its pressure exchanger technology platform, the Company designs and manufactures solutions that make industrial processes more efficient and sustainable. What began as a game-changing invention for desalination has grown into a global business advancing the environmental sustainability of customers' operations in multiple industries. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing, research and development facilities across California and Texas with sales and on-site technical support available globally.
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This story originally appeared on Fintel.
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