Investment analysts at Evercore ISI started coverage on shares of Energy Recovery Inc. (NASDAQ:ERII) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the stock.
Other analysts have also issued research reports about the stock. Iberia Capital began coverage on shares of Energy Recovery in a research note on Monday. They issued an “outperform” rating and a $21.00 target price for the company. Zacks Investment Research lowered shares of Energy Recovery from a “buy” rating to a “strong sell” rating in a research note on Monday, July 18th. FBR & Co upped their target price 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 upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and upped their target price for the stock from $8.00 to $20.00 in a research note on Tuesday, September 13th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Energy Recovery currently has a consensus rating of “Buy” and a consensus price target of $16.00.
Shares of Energy Recovery (NASDAQ:ERII) opened at 15.23 on Tuesday. The firm’s market cap is $792.78 million. The firm has a 50-day moving average of $13.24 and a 200 day moving average of $11.10. Energy Recovery has a 52 week low of $2.07 and a 52 week high of $16.49.
Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm earned $13.20 million during the quarter, compared to analyst estimates of $10.34 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s revenue was up 25.7% compared to the same quarter last year. Equities research analysts predict that Energy Recovery will post $0.67 EPS for the current fiscal year.
In other Energy Recovery news, Director Alexander J. Buehler sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were 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 of the company’s stock, valued at $1,105,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Buehler sold 24,500 shares of the company’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 sale, the director now directly owns 60,500 shares in the company, valued at $789,525. The disclosure for this sale can be found here. Corporate insiders own 26.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased 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 valued at $125,000 after buying an additional 2,127 shares during the period. Geode Capital Management LLC increased its stake in Energy Recovery by 1.5% in the first quarter. Geode Capital Management LLC now owns 249,003 shares of the company’s stock valued at $2,573,000 after buying an additional 3,687 shares during the period. Acrospire Investment Management LLC increased 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 valued at $111,000 after buying an additional 6,500 shares during the period. Menta Capital LLC acquired a new stake in Energy Recovery during the first quarter valued at approximately $107,000. Finally, BlackRock Advisors LLC increased 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 valued at $140,000 after buying an additional 10,477 shares during the period. 26.13% of the stock is currently owned by institutional investors and hedge funds.
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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