Energy Recovery, Inc. (NASDAQ:ERII – Get Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $21.04, but opened at $21.67. Energy Recovery shares last traded at $21.11, with a volume of 747 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on ERII shares. B. Riley initiated coverage on Energy Recovery in a research note on Thursday, November 17th. They issued a "buy" rating and a $28.00 price target for the company. StockNews.com assumed coverage on shares of Energy Recovery in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Fearnley Fonds cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Monday, November 7th. Finally, Raymond James upgraded shares of Energy Recovery from a "market perform" rating to an "outperform" rating and set a $23.00 target price on the stock in a report on Tuesday, November 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.00.
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Energy Recovery Trading Up 0.8 %
The company has a market cap of $1.15 billion, a price-to-earnings ratio of 76.04 and a beta of 1.10. The stock's 50-day moving average is $21.94 and its 200-day moving average is $21.88.
Energy Recovery (NASDAQ:ERII – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $30.46 million for the quarter, compared to analyst estimates of $34.00 million. Energy Recovery had a net
margin of 13.34% and a return on equity of 9.89%. As a group, analysts predict that Energy Recovery, Inc. will post 0.34 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. bought a new position in Energy Recovery during the 3rd quarter valued at $11,220,000. Jennison Associates LLC boosted its holdings in Energy Recovery by 86.7% during the second quarter. Jennison Associates LLC now owns 974,609 shares of the industrial products company's stock worth $18,927,000 after purchasing an additional 452,454 shares during the last quarter. Eaton Vance Management bought a new stake in Energy Recovery in the 1st quarter worth about $7,890,000. DekaBank Deutsche Girozentrale purchased a new stake in Energy Recovery in the 3rd quarter valued at about $8,583,000. Finally, Vanguard Group Inc. lifted its position in shares of Energy Recovery by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,734,926 shares of the industrial products company's stock worth $59,457,000 after buying an additional 221,634 shares in the last quarter. Institutional investors own 76.96% of the company's stock.
About Energy Recovery
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Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. The company operates through Water and Emerging Technologies segments. It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services.
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