Energy Recovery (NASDAQ:ERII) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, December 19th.
A number of other research analysts have also commented on the company. Seaport Global Securities initiated coverage on Energy Recovery in a research report on Tuesday, October 17th. They set a “buy” rating and a $17.00 price target for the company. JMP Securities initiated coverage on Energy Recovery in a research report on Tuesday, September 5th. They set an “outperform” rating and a $12.00 price target for the company. Capital One Financial initiated coverage on Energy Recovery in a research report on Thursday, September 7th. They set an “overweight” rating and a $16.00 price target for the company. B. Riley set a $20.00 price target on Energy Recovery and gave the company a “buy” rating in a research report on Thursday, November 30th. Finally, FBR & Co set a $16.00 price target on Energy Recovery and gave the company a “buy” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $15.63.
Shares of Energy Recovery (NASDAQ ERII) opened at $8.98 on Tuesday. The firm has a market capitalization of $481.28, a PE ratio of 149.67 and a beta of 5.73. Energy Recovery has a fifty-two week low of $6.13 and a fifty-two week high of $11.30.
Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.31). The company had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. analysts forecast that Energy Recovery will post 0.05 EPS for the current year.
In other Energy Recovery news, Director Hans Peter Michelet sold 50,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $8.91, for a total transaction of $445,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $11.00, for a total value of $78,287.00. Following the sale, the vice president now owns 32,398 shares in the company, valued at $356,378. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,117 shares of company stock valued at $545,787. 23.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ERII. Parametric Portfolio Associates LLC purchased a new stake in Energy Recovery during the 2nd quarter valued at $117,000. Perigon Wealth Management LLC boosted its stake in Energy Recovery by 149.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 9,099 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Energy Recovery during the 3rd quarter valued at $130,000. Boothbay Fund Management LLC purchased a new position in shares of Energy Recovery in the 3rd quarter worth $131,000. Finally, PEAK6 Investments L.P. purchased a new position in shares of Energy Recovery in the 3rd quarter worth $150,000. Institutional investors and hedge funds own 33.58% of the company’s stock.
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Energy Recovery Company Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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