Energy Recovery (NASDAQ:ERII) Stock Rating Upgraded by StockNews.com

Energy Recovery (NASDAQ:ERII) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other analysts have also issued reports on the company. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Trading Down 1.4 %

ERII stock opened at $15.95 on Friday. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27. The stock has a 50-day moving average price of $15.33 and a 200-day moving average price of $16.19. The firm has a market cap of $876.53 million, a PE ratio of 46.91 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. On average, analysts forecast that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Activity at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Energy Recovery

A number of large investors have recently bought and sold shares of ERII. Avanza Fonder AB purchased a new stake in shares of Energy Recovery in the 4th quarter worth $107,000. Schroder Investment Management Group purchased a new stake in Energy Recovery in the fourth quarter worth about $160,000. Nebula Research & Development LLC grew its holdings in Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 687 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in Energy Recovery during the 4th quarter valued at about $211,000. Finally, Two Sigma Investments LP bought a new stake in shares of Energy Recovery in the 4th quarter valued at about $229,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.