Energy Recovery, Inc. (NASDAQ:ERII)‘s stock had its “buy” rating restated by research analysts at FBR & Co in a report issued on Wednesday.
A number of other research firms have also commented on ERII. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. JMP Securities initiated coverage on Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price objective (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. Finally, Capital One Financial Corporation initiated coverage on Energy Recovery in a research note on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $16.50.
Shares of Energy Recovery (ERII) opened at 8.04 on Wednesday. The firm has a market cap of $430.75 million, a price-to-earnings ratio of 277.24 and a beta of 5.55. Energy Recovery has a 1-year low of $6.13 and a 1-year high of $14.79. The stock has a 50 day moving average price of $7.22 and a 200-day moving average price of $7.61.
Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts expect that Energy Recovery will post $0.40 earnings per share for the current fiscal year.
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In other Energy Recovery news, Director Olav Fjell acquired 18,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $127,440. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in Energy Recovery during the first quarter valued at about $113,000. Parametric Portfolio Associates LLC bought a new position in Energy Recovery during the second quarter valued at about $117,000. Perigon Wealth Management LLC increased its stake in Energy Recovery by 149.7% during the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 9,099 shares during the period. National Planning Corp increased its stake in Energy Recovery by 21.3% during the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 3,297 shares during the period. Finally, Voya Investment Management LLC increased its stake in Energy Recovery by 21.0% during the second quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock valued at $158,000 after acquiring an additional 3,293 shares during the period. Hedge funds and other institutional investors own 33.70% 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. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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