Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Energy Recovery from a buy rating to a strong sell rating in a research note on Monday, July 18th. FBR & Co boosted their price target on shares of Energy Recovery from $14.00 to $16.00 and gave the stock an outperform rating in a research note on Monday, August 8th. Finally, Jefferies Group raised shares of Energy Recovery from a hold rating to a buy rating and boosted their price target for the stock from $8.00 to $20.00 in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $17.00.
Shares of Energy Recovery (NASDAQ:ERII) opened at 16.20 on Monday. The company has a 50 day moving average price of $13.43 and a 200 day moving average price of $11.19. The company’s market capitalization is $843.27 million. Energy Recovery has a 52 week low of $2.09 and a 52 week high of $16.67.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. Energy Recovery had a negative net margin of 3.05% and a positive return on equity of 3.97%. The company earned $13.20 million during the quarter, compared to the consensus estimate of $10.34 million. During the same period in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts expect that Energy Recovery will post $0.67 earnings per share 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 shares were sold at an average price of $13.00, for a total value of $65,000.00. Following the transaction, the director now owns 85,000 shares in the company, valued at $1,105,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander J. Buehler sold 24,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $13.05, for a total transaction of $319,725.00. Following the completion of 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 currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ERII. Menta Capital LLC purchased a new position in Energy Recovery during the first quarter worth about $107,000. Acrospire Investment Management LLC boosted its position in shares of Energy Recovery by 109.3% in the second quarter. Acrospire Investment Management LLC now owns 12,449 shares of the company’s stock valued at $111,000 after buying an additional 6,500 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Energy Recovery by 17.8% in the second quarter. Jane Street Group LLC now owns 14,059 shares of the company’s stock valued at $125,000 after buying an additional 2,127 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Energy Recovery by 200.2% in the second quarter. BlackRock Advisors LLC now owns 15,709 shares of the company’s stock valued at $140,000 after buying an additional 10,477 shares in the last quarter. Finally, AHL Partners LLP bought a new position in shares of Energy Recovery during the second quarter valued at about $143,000. Hedge funds and other institutional investors own 26.13% of the company’s stock.
About Energy Recovery
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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