Energy Recovery Inc. (NASDAQ:ERII) – Equities research analysts at Jefferies Group issued their Q3 2016 EPS estimates for Energy Recovery in a research note issued to investors on Thursday. Jefferies Group analyst L. Alexander forecasts that the firm will post earnings of $0.03 per share for the quarter. Jefferies Group has a “Buy” rating and a $20.00 price target on the stock.
Several other analysts also recently commented on ERII. Zacks Investment Research raised Energy Recovery from a “strong sell” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, July 13th. FBR & Co reissued a “buy” rating on shares of Energy Recovery in a research note on Thursday, September 8th. Evercore ISI assumed coverage on Energy Recovery in a research note on Tuesday, September 27th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Iberia Capital assumed coverage on Energy Recovery in a research note on Monday, September 26th. They issued an “outperform” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Energy Recovery presently has a consensus rating of “Buy” and an average price target of $17.00.
Energy Recovery (NASDAQ:ERII) opened at 13.58 on Friday. The firm has a 50-day moving average price of $14.23 and a 200 day moving average price of $11.62. The firm’s market cap is $706.89 million. Energy Recovery has a 1-year low of $2.40 and a 1-year high of $16.67.
Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.06. Energy Recovery had a positive return on equity of 3.97% and a negative net margin of 3.05%. The firm had revenue of $13.20 million for the quarter, compared to analyst estimates of $10.34 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the stock. Bogle Investment Management L P DE purchased a new position in shares of Energy Recovery during the first quarter valued at $1,227,000. Edmond DE Rothschild Holding S.A. bought a new position in Energy Recovery during the first quarter worth approximately $306,000. California Public Employees Retirement System raised its position in Energy Recovery by 27.9% in the second quarter. California Public Employees Retirement System now owns 242,400 shares of the company’s stock worth $2,155,000 after buying an additional 52,900 shares during the last quarter. Alpine Partners VI LLC bought a new position in Energy Recovery during the first quarter worth approximately $174,000. Finally, Menta Capital LLC bought a new position in Energy Recovery during the first quarter worth approximately $107,000. 26.13% of the stock is owned by institutional investors and hedge funds.
In other Energy Recovery news, Director Alexander J. Buehler sold 24,500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $13.05, for a total transaction of $319,725.00. Following the completion of the transaction, the director now directly owns 60,500 shares of the company’s stock, valued at $789,525. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Buehler sold 5,000 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $1,105,000. The disclosure for this sale can be found here. Corporate insiders own 26.70% of the company’s stock.
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. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.
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