Energy Recovery Inc. (NASDAQ:ERII) has been given an average recommendation of “Buy” by the eight analysts that are presently covering the firm. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $17.17.
Several equities research analysts recently weighed in on ERII shares. Zacks Investment Research upgraded Energy Recovery from a “strong sell” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, July 13th. FBR & Co started coverage on Energy Recovery in a report on Thursday, July 14th. They issued an “outperform” rating and a $14.00 target price for the company. Jefferies Group upgraded Energy Recovery from a “hold” rating to a “buy” rating and boosted their target price for the stock from $8.00 to $20.00 in a report on Tuesday, September 13th. Iberia Capital started coverage on Energy Recovery in a report on Monday, September 26th. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Evercore ISI started coverage on Energy Recovery in a report on Tuesday, September 27th. They issued a “buy” rating and a $23.00 target price for the company.
Shares of Energy Recovery (NASDAQ:ERII) traded down 0.07% during trading on Monday, reaching $13.57. The company had a trading volume of 180,330 shares. The stock has a 50 day moving average price of $14.23 and a 200 day moving average price of $11.62. The firm’s market capitalization is $706.37 million. Energy Recovery has a 12 month low of $2.40 and a 12 month high of $16.67.
Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ 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 earned $13.20 million during the quarter, compared to analyst estimates of $10.34 million. During the same period in the previous year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, equities research analysts forecast that Energy Recovery will post $0.67 EPS for the current year.
In other news, Director Alexander J. Buehler sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. Following the sale, the director now directly owns 85,000 shares in the company, valued at $1,105,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Buehler sold 24,500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $13.05, for a total value of $319,725.00. Following the sale, the director now owns 60,500 shares in the company, valued at $789,525. The disclosure for this sale can be found here. Insiders own 26.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its stake in Energy Recovery by 17.8% in the second quarter. Jane Street Group LLC now owns 14,059 shares of the company’s stock worth $125,000 after buying an additional 2,127 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in Energy Recovery by 109.3% in the second quarter. Acrospire Investment Management LLC now owns 12,449 shares of the company’s stock worth $111,000 after buying an additional 6,500 shares in the last quarter. Menta Capital LLC purchased a new stake in Energy Recovery during the first quarter worth about $107,000. BlackRock Advisors LLC boosted its stake in Energy Recovery by 200.2% in the second quarter. BlackRock Advisors LLC now owns 15,709 shares of the company’s stock worth $140,000 after buying an additional 10,477 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Energy Recovery during the third quarter worth about $185,000. Institutional investors and hedge funds own 26.12% of the company’s stock.
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. 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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