Published On: Wed, Sep 7th, 2016

Energy Recovery Inc. (ERII) Reaches New 1-Year High at $13.96

Energy Recovery Inc. (NASDAQ:ERII) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.96 and last traded at $13.10, with a volume of 623,952 shares changing hands. The stock had previously closed at $12.86.
A number of brokerages recently weighed in on ERII. Zacks Investment Research downgraded Energy Recovery from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 10th. FBR & Co began coverage on Energy Recovery in a research note on Thursday, July 14th. They issued an “outperform” rating and a $14.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $11.40.
The firm’s market cap is $697.72 million. The company has a 50-day moving average of $11.81 and a 200 day moving average of $10.43.

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Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.06. The business earned $13.20 million during the quarter, compared to the consensus estimate of $10.34 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 25.7% compared to the same quarter last year. On average, analysts anticipate that Energy Recovery Inc. will post $0.74 earnings per share for the current year.
In other news, Director Alexander J. Buehler sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $1,105,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander J. Buehler sold 24,500 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $13.05, for a total value of $319,725.00. Following the transaction, the director now directly owns 60,500 shares of the company’s stock, valued at $789,525. The disclosure for this sale can be found here.
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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