Energy Recovery (NASDAQ:ERII - Get Free Report) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $67.39 million for the quarter. Individual that wish to listen to the company's earnings conference call can do so using this link.
Energy Recovery Trading Up 1.3 %
ERII traded up $0.19 during midday trading on Friday, hitting $15.29. 346,636 shares of the company were exchanged, compared to its average volume of 255,718. The company's 50 day simple moving average is $14.97 and its 200 day simple moving average is $16.35. The firm has a market capitalization of $885.14 million, a price-to-earnings ratio of 44.97 and a beta of 1.18. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27.
Insider Activity at Energy Recovery
In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on ERII. Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. Evercore ISI decreased their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, November 19th. Scotiabank started coverage on Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 target price on the stock. B. Riley reduced their price target on Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Finally, Fearnley Fonds downgraded Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $20.75.
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About Energy Recovery
(
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Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.
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