Energy Recovery, Inc. (NASDAQ:ERII) – Analysts at Capital One Financial dropped their Q1 2018 earnings per share estimates for Energy Recovery in a report issued on Friday. Capital One Financial analyst J. Gibney now forecasts that the industrial products company will post earnings of ($0.01) per share for the quarter, down from their previous estimate of $0.01. Capital One Financial also issued estimates for Energy Recovery’s Q2 2018 earnings at $0.01 EPS and FY2018 earnings at $0.05 EPS.
A number of other analysts have also recently weighed in 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 on the stock. B. Riley set a $20.00 price target on Energy Recovery and gave the stock a “buy” rating in a research report on Thursday, November 30th. Zacks Investment Research cut Energy Recovery from a “strong-buy” rating to a “sell” rating in a research report on Monday, January 8th. BidaskClub cut Energy Recovery from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Jefferies Group reiterated a “buy” rating and set a $14.00 price target on shares of Energy Recovery in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Energy Recovery currently has a consensus rating of “Buy” and a consensus target price of $15.63.
Shares of Energy Recovery (NASDAQ ERII) opened at $7.89 on Monday. The firm has a market capitalization of $422.86, a P/E ratio of 131.50 and a beta of 5.47. Energy Recovery has a 1 year low of $6.13 and a 1 year high of $11.30.
In related news, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction that occurred 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 SEC, which is available through this link. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction that occurred 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 completion of 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. Insiders have sold a total of 59,117 shares of company stock worth $545,787 over the last quarter. Insiders own 23.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ERII. Schwab Charles Investment Management Inc. increased its position in Energy Recovery by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock valued at $989,000 after acquiring an additional 741 shares during the period. Rhumbline Advisers increased its position in Energy Recovery by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 2,712 shares during the period. Alliancebernstein L.P. increased its position in Energy Recovery by 51.5% in the 2nd quarter. Alliancebernstein L.P. now owns 30,300 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 10,300 shares during the period. Teachers Advisors LLC increased its position in Energy Recovery by 4.4% in the 2nd quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock valued at $569,000 after acquiring an additional 2,887 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Energy Recovery by 7.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 97,258 shares of the industrial products company’s stock valued at $806,000 after acquiring an additional 6,387 shares during the period. Hedge funds and other institutional investors own 33.60% of the company’s stock.
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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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