Energy Recovery (NASDAQ:ERII - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Saturday.
Other research analysts have also recently issued research reports about the company. Seaport Res Ptn raised Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th. Scotiabank started coverage on Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $20.75.
Read Our Latest Stock Report on Energy Recovery
Energy Recovery Price Performance
NASDAQ ERII traded up $0.12 during trading on Friday, reaching $15.97. The company's stock had a trading volume of 498,151 shares, compared to its average volume of 398,839. The stock has a market capitalization of $877.63 million, a PE ratio of 46.97 and a beta of 1.05. The firm has a fifty day moving average of $15.39 and a 200 day moving average of $16.20. Energy Recovery has a one year low of $12.26 and a one year high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. Research analysts expect that Energy Recovery will post 0.36 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.
Institutional Investors Weigh In On Energy Recovery
A number of large investors have recently added to or reduced their stakes in ERII. Avanza Fonder AB purchased a new stake in shares of Energy Recovery during the fourth quarter worth about $107,000. Schroder Investment Management Group bought a new position in Energy Recovery during the 4th quarter valued at approximately $160,000. Nebula Research & Development LLC grew its position in shares of Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after buying an additional 687 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Energy Recovery during the fourth quarter valued at approximately $211,000. Finally, Two Sigma Investments LP bought a new position in shares of Energy Recovery during the fourth quarter valued at approximately $229,000. Institutional investors own 83.58% of the company's stock.
About Energy Recovery
(
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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