A number of research firms have changed their ratings and price targets for Energy Recovery (NASDAQ: ERII):
- 9/27/2016 – Energy Recovery is now covered by analysts at Evercore ISI. They set a “buy” rating and a $23.00 price target on the stock.
- 9/26/2016 – Energy Recovery is now covered by analysts at Iberia Capital. They set an “outperform” rating and a $21.00 price target on the stock.
- 9/14/2016 – Energy Recovery was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “Based in San Leandro, California, ENERGY RECOVERY, INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery, Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology, specifically the ERI PX Pressure Exchanger, that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination, and are helping to make desalination affordable worldwide. “
- 9/13/2016 – Energy Recovery was upgraded by analysts at Jefferies Group from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock, up previously from $8.00.
- 9/8/2016 – Energy Recovery had its “buy” rating reaffirmed by analysts at FBR & Co.
- 8/8/2016 – Energy Recovery had its price target raised by analysts at FBR & Co from $14.00 to $16.00. They now have an “outperform” rating on the stock.
Energy Recovery Inc. (NASDAQ:ERII) traded down 2.06% on Tuesday, reaching $15.68. The company had a trading volume of 151,107 shares. The firm’s market capitalization is $816.21 million. Energy Recovery Inc. has a 12 month low of $2.40 and a 12 month high of $16.67. The stock has a 50 day moving average of $13.70 and a 200 day moving average of $11.35.
Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.06. Energy Recovery had a positive return on equity of 3.97% and a negative net margin of 3.05%. The firm had revenue of $13.20 million for the quarter, compared to analysts’ expectations of $10.34 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, analysts anticipate that Energy Recovery Inc. will post $0.67 EPS for the current year.
In other Energy Recovery news, Director Alexander J. Buehler sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. Following the transaction, the director now owns 85,000 shares in the company, valued at $1,105,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alexander J. Buehler sold 24,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $13.05, for a total value of $319,725.00. Following the transaction, the director now owns 60,500 shares in the company, valued at approximately $789,525. The disclosure for this sale can be found here. 26.70% of the stock is owned by corporate insiders.
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. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.
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