Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $14.66, but opened at $15.34. Energy Recovery shares last traded at $15.14, with a volume of 69,978 shares trading hands.
Analysts Set New Price Targets
ERII has been the subject of a number of recent analyst reports. Fearnley Fonds cut shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. StockNews.com upgraded Energy Recovery from a "sell" rating to a "hold" rating in a report on Thursday, August 1st. Evercore ISI dropped their price objective on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, B. Riley reduced their target price on Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.33.
Check Out Our Latest Stock Report on ERII
Energy Recovery Price Performance
The firm has a market capitalization of $888.61 million, a PE ratio of 45.15 and a beta of 1.22. The stock's 50-day moving average price is $17.78 and its 200 day moving average price is $15.68.
Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly 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 business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 EPS. Equities research analysts forecast that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.
Insider Activity
In related news, SVP Rodney Clemente sold 6,505 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now owns 133,823 shares of the company's stock, valued at $2,406,137.54. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Farshad Ghasripoor sold 10,526 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the completion of the transaction, the chief technology officer now owns 126,961 shares of the company's stock, valued at $2,281,489.17. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,406 shares of company stock worth $828,688. 4.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Energy Recovery
Institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery in the 2nd quarter worth $26,000. CWM LLC boosted its holdings in Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock worth $74,000 after acquiring an additional 4,177 shares in the last quarter. AXA S.A. purchased a new stake in shares of Energy Recovery during the second quarter worth about $149,000. ProShare Advisors LLC purchased a new stake in shares of Energy Recovery during the first quarter worth about $158,000. Finally, AQR Capital Management LLC increased its holdings in shares of Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock valued at $159,000 after acquiring an additional 1,986 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.
Energy Recovery Company Profile
(
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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