Energy Recovery (ERII)
Designs pressure exchangers, pumps, and turbochargers for desalination and wastewater systems.
Something off on this page? Send us feedback.
Sells PX pressure exchangers and complementary pumps, turbochargers, and services for reverse-osmosis desalination and wastewater treatment. Revenue is centered on Water, with international megaproject, OEM, and aftermarket channels shaping demand.
Builds around PX pressure exchangers, engineered ceramic devices that transfer pressure energy inside reverse-osmosis systems. The Water segment also sells Ultra High-Pressure PX and Low-Pressure PX variants, hydraulic turbochargers, high-pressure and circulation booster pumps, spare parts, repairs, field services, and commissioning support.
Demand is tied to desalination and wastewater projects, with megaproject customers, OEMs, and aftermarket plant operators all in the channel mix. International water infrastructure work, including activity in the Middle East, Africa, and Asia, is an important backdrop.
Execution depends on pressure-exchanger efficiency, durable ceramics, and project timing. Emerging Technologies is being narrowed after the CO2 retail-grocery refrigeration business was placed into wind-down.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Seaport Global | Downgrade | ||
| Aug 6, 2026 | B.Riley Financial | Target | Target: — | Target: $8 |
| May 13, 2026 | Seaport Global | Target | Target: $22 | Target: $12 |
| May 11, 2026 | Freedom Broker | Downgrade | ||
| Mar 2, 2026 | Loop Capital Markets | Target | Target: $18.20 | Target: $13 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $93.1M · Total debt $8.2M · Total assets $197.7M · Shareholders' equity $172.5M
- Revenue
- $12.0M
- Operating income
- −$5.9M
- Net income
- −$3.2M
No dividends on record.
| Institutions | 86.68% | 44.25M shares | |
|---|---|---|---|
| 209 holders · as of Jun 30, 2026 | |||
| Insiders | 2.94% | 1.50M shares | |
| 14 holders · as of Jul 29, 2026 | |||
| Other | 10.38% | 5.30M shares | |
| remainder | |||
51.04M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.43% | 6.34M | as of Jun 30, 2026 |
AmundiInstitution | 7.84% | 4.00M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.28% | 2.18M | as of Jun 30, 2026 |
Legal & General Group PLCInstitution | 4.04% | 2.06M | as of Jun 30, 2026 |
FIL LtdInstitution | 3.36% | 1.72M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 28, 2026 | William Yeung | officer: Chief Legal Officer | −2,048 | $8.56 |
| Jul 28, 2026 | Rodney Clemente | officer: SVP, Water | −5,387 | $8.56 |
| Jun 15, 2026 | Alexander J. Buehler | director, officer: Interim President and CEO | −14,900 | $8.71 |
| Jun 15, 2026 | Colin R. Sabol | director | +11,180 | $8.88 |
| May 13, 2026 | Pamela L. Tondreau | director | +20,000 | $8.34 |
