Energy Recovery, Inc. (NASDAQ:ERII) has been assigned a consensus rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.50.
A number of equities analysts have issued reports on the company. B. Riley set a $20.00 target price on Energy Recovery and gave the company a “buy” rating in a research report on Thursday, November 30th. BidaskClub lowered Energy Recovery from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Jefferies Group reissued a “buy” rating and set a $14.00 price target on shares of Energy Recovery in a research report on Wednesday, December 20th. Zacks Investment Research lowered Energy Recovery from a “strong-buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, 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 on the stock.
In other 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 value of $445,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the completion of the transaction, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,117 shares of company stock valued at $545,787. 23.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Energy Recovery by 64.9% in the second quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock worth $4,920,000 after purchasing an additional 233,625 shares in the last quarter. Heartland Advisors Inc. grew its stake in shares of Energy Recovery by 183.3% in the third quarter. Heartland Advisors Inc. now owns 850,000 shares of the industrial products company’s stock worth $6,715,000 after purchasing an additional 550,000 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Energy Recovery by 36.1% in the second quarter. D.A. Davidson & CO. now owns 72,800 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 19,300 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Energy Recovery by 200.0% in the third quarter. Neuberger Berman Group LLC now owns 60,000 shares of the industrial products company’s stock worth $474,000 after purchasing an additional 40,000 shares in the last quarter. Finally, 683 Capital Management LLC grew its stake in shares of Energy Recovery by 115.3% in the third quarter. 683 Capital Management LLC now owns 700,100 shares of the industrial products company’s stock worth $5,531,000 after purchasing an additional 374,900 shares in the last quarter. 33.60% of the stock is owned by institutional investors.
Shares of Energy Recovery (ERII) traded down $0.19 on Friday, hitting $7.73. The company’s stock had a trading volume of 160,473 shares, compared to its average volume of 311,291. Energy Recovery has a one year low of $6.13 and a one year high of $11.30. The firm has a market cap of $418.04, a price-to-earnings ratio of 128.83 and a beta of 5.73.
Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.31). Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The business had revenue of $15.08 million during the quarter, compared to analyst estimates of $14.64 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. research analysts forecast that Energy Recovery will post 0.05 EPS for the current year.
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About Energy Recovery
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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