Energy Recovery (NASDAQ:ERII - Get Free Report) had its target price lowered by research analysts at Evercore ISI from $23.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Evercore ISI's target price indicates a potential upside of 30.29% from the company's previous close.
ERII has been the subject of a number of other research reports. B. Riley decreased their price target on Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday. StockNews.com upgraded Energy Recovery from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Fearnley Fonds lowered Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $20.33.
View Our Latest Stock Report on ERII
Energy Recovery Trading Up 4.7 %
NASDAQ:ERII traded up $0.69 during mid-day trading on Tuesday, reaching $15.35. 1,008,431 shares of the stock were exchanged, compared to its average volume of 423,306. The business has a fifty day moving average price of $17.78 and a 200 day moving average price of $15.68. The firm has a market capitalization of $888.61 million, a PE ratio of 45.15 and a beta of 1.22. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Energy Recovery's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, sell-side analysts forecast that Energy Recovery will post 0.41 earnings per share for the current year.
Insider Activity at Energy Recovery
In other news, SVP Rodney Clemente sold 19,618 shares of Energy Recovery stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.00, for a total transaction of $392,360.00. Following the sale, the senior vice president now owns 114,205 shares of the company's stock, valued at approximately $2,284,100. This trade represents a 14.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,406 shares of company stock valued at $828,688. Corporate insiders own 4.10% of the company's stock.
Institutional Trading of Energy Recovery
Institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new stake in Energy Recovery in the 2nd quarter valued at $26,000. CWM LLC boosted its stake in Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock valued at $74,000 after buying an additional 4,177 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Energy Recovery in the 1st quarter valued at $158,000. Pinnacle Associates Ltd. acquired a new stake in Energy Recovery in the 3rd quarter valued at $193,000. Finally, Lazard Asset Management LLC boosted its stake in Energy Recovery by 39.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company's stock valued at $171,000 after buying an additional 3,076 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.
Energy Recovery Company Profile
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Get Free Report)
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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