Shares of Energy Recovery (NASDAQ:ERII) have been given an average rating of “Hold” by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.80.
Several brokerages have commented on ERII. B. Riley set a $20.00 price objective on shares of Energy Recovery and gave the company a “buy” rating in a research report on Tuesday, March 27th. BidaskClub upgraded shares of Energy Recovery from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 13th. TheStreet upgraded shares of Energy Recovery from a “c” rating to a “b-” rating in a research report on Thursday, March 8th. ValuEngine upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, Zacks Investment Research downgraded shares of Energy Recovery from a “strong-buy” rating to a “sell” rating in a research report on Monday, January 8th.
Shares of NASDAQ ERII traded up $0.06 during midday trading on Wednesday, reaching $8.25. The company’s stock had a trading volume of 97,939 shares, compared to its average volume of 401,835. Energy Recovery has a fifty-two week low of $6.13 and a fifty-two week high of $11.30. The company has a market cap of $442.14, a price-to-earnings ratio of 117.00 and a beta of 5.30.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, March 7th. The industrial products company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.17). Energy Recovery had a net margin of 22.39% and a return on equity of 5.62%. The business had revenue of $22.39 million during the quarter, compared to analyst estimates of $30.59 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. research analysts predict that Energy Recovery will post 0.25 earnings per share for the current year.
Energy Recovery declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 8th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $8.57, for a total transaction of $428,500.00. Following the completion of the transaction, the director now directly owns 1,095,800 shares in the company, valued at $9,391,006. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Arlington Financial Advisors LLC bought a new stake in shares of Energy Recovery during the fourth quarter worth $1,003,000. Neuberger Berman Group LLC grew its stake in shares of Energy Recovery by 200.0% during the third quarter. Neuberger Berman Group LLC now owns 60,000 shares of the industrial products company’s stock worth $474,000 after buying an additional 40,000 shares during the last quarter. Cadence Capital Management LLC bought a new stake in shares of Energy Recovery during the fourth quarter worth $1,661,000. Virtu Financial LLC bought a new stake in shares of Energy Recovery during the fourth quarter worth $631,000. Finally, Encompass Capital Advisors LLC grew its stake in shares of Energy Recovery by 51.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,208,674 shares of the industrial products company’s stock worth $10,576,000 after buying an additional 408,674 shares during the last quarter. 36.07% of the stock is currently owned by hedge funds and other institutional investors.
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Energy Recovery Company Profile
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 worldwide. 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 low and high-pressure reverse osmosis systems.
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