Energy Recovery (NASDAQ:ERII) issued its earnings results on Thursday. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02, Bloomberg Earnings reports. The business had revenue of $22.80 million for the quarter, compared to analyst estimates of $20.53 million. Energy Recovery had a net margin of 39.35% and a return on equity of 11.72%. Energy Recovery’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share.
Shares of Energy Recovery stock traded up $0.26 during trading hours on Friday, reaching $11.16. The company’s stock had a trading volume of 433,898 shares, compared to its average volume of 182,733. Energy Recovery has a one year low of $6.17 and a one year high of $12.04. The stock has a market cap of $598.18 million, a P/E ratio of 55.80 and a beta of 4.32. The business has a fifty day simple moving average of $10.68. The company has a quick ratio of 4.55, a current ratio of 4.85 and a debt-to-equity ratio of 0.10.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research note on Friday, June 7th. TheStreet raised shares of Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. B. Riley set a $15.00 target price on shares of Energy Recovery and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, ValuEngine lowered shares of Energy Recovery from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Energy Recovery has a consensus rating of “Buy” and a consensus target price of $13.00.
In other Energy Recovery news, VP Emily Smith sold 7,868 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $10.90, for a total value of $85,761.20. Following the transaction, the vice president now directly owns 48,773 shares of the company’s stock, valued at $531,625.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hans Peter Michelet sold 99,014 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $10.73, for a total transaction of $1,062,420.22. Following the completion of the transaction, the director now directly owns 18,365 shares in the company, valued at $197,056.45. The disclosure for this sale can be found here. Insiders sold 338,963 shares of company stock worth $3,632,801 over the last ninety days. Insiders own 23.80% of the company’s stock.
About Energy Recovery
Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.
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