Energy Recovery (NASDAQ:ERII) Raised to Buy at StockNews.com

Energy Recovery (NASDAQ:ERII - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

ERII has been the topic of a number of other research reports. Seaport Res Ptn raised Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $20.75.

Energy Recovery Trading Up 0.2 %

ERII stock traded up $0.03 during trading hours on Friday, hitting $15.92. 172,071 shares of the stock were exchanged, compared to its average volume of 397,316. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The firm has a market capitalization of $874.61 million, a P/E ratio of 46.82 and a beta of 1.21. The company has a 50-day simple moving average of $15.35 and a two-hundred day simple moving average of $16.20.

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Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. On average, equities research analysts predict that Energy Recovery will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction dated Thursday, February 20th. The shares were 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 owns 111,109 shares of the company's stock, valued at approximately $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of Energy Recovery

Hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Energy Recovery by 4.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 186,046 shares of the industrial products company's stock worth $2,735,000 after buying an additional 8,076 shares in the last quarter. Two Sigma Investments LP acquired a new position in Energy Recovery in the 4th quarter worth about $229,000. State of Wyoming raised its position in Energy Recovery by 13.2% in the fourth quarter. State of Wyoming now owns 23,131 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 2,699 shares during the last quarter. Select Equity Group L.P. raised its position in Energy Recovery by 9.4% in the fourth quarter. Select Equity Group L.P. now owns 132,495 shares of the industrial products company's stock valued at $1,948,000 after purchasing an additional 11,351 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Energy Recovery by 45.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company's stock valued at $7,308,000 after purchasing an additional 156,184 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Energy Recovery Company Profile

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.