Energy Recovery, Inc. (NASDAQ:ERII) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 4,510,000 shares, a decrease of 8.7% from the November 14th total of 4,940,000 shares. Based on an average trading volume of 209,600 shares, the short-interest ratio is presently 21.5 days. Approximately 11.9% of the shares of the company are short sold.
Shares of NASDAQ ERII traded up $0.06 during mid-day trading on Friday, hitting $9.15. The company had a trading volume of 135,555 shares, compared to its average volume of 197,022. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.32 and a quick ratio of 4.01. The business’s 50-day simple moving average is $9.02 and its 200-day simple moving average is $9.70. Energy Recovery has a 12 month low of $6.17 and a 12 month high of $12.04. The firm has a market cap of $501.00 million, a P/E ratio of 45.75 and a beta of 4.19.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The firm had revenue of $24.90 million during the quarter, compared to analyst estimates of $22.01 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Recovery will post 0.17 EPS for the current year.
Several equities research analysts recently weighed in on the stock. ValuEngine cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. JMP Securities set a $15.00 target price on shares of Energy Recovery and gave the company a “buy” rating in a research note on Thursday, October 10th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday, November 8th. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Raymond James assumed coverage on shares of Energy Recovery in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $12.00 target price for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.20.
In related news, Director Arve Hanstveit sold 39,787 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $8.78, for a total value of $349,329.86. In the last quarter, insiders sold 54,081 shares of company stock valued at $480,999. 23.80% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of ERII. KBC Group NV boosted its holdings in shares of Energy Recovery by 508.9% during the 2nd quarter. KBC Group NV now owns 313,451 shares of the industrial products company’s stock valued at $3,266,000 after buying an additional 261,971 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Energy Recovery during the 2nd quarter worth about $131,000. Manchester Capital Management LLC raised its position in shares of Energy Recovery by 59.8% during the 2nd quarter. Manchester Capital Management LLC now owns 32,405 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 12,130 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Energy Recovery by 18.6% during the 2nd quarter. Wells Fargo & Company MN now owns 28,924 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 4,542 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Energy Recovery by 5.2% during the 3rd quarter. First Trust Advisors LP now owns 589,767 shares of the industrial products company’s stock worth $5,464,000 after acquiring an additional 29,136 shares in the last quarter. 35.57% of the stock is owned by hedge funds and other institutional investors.
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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