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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/07/energy-recovery-inc-erii-reaches-new-1-year-high-at-13-96.html
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.
Receive News & Ratings for Energy Recovery Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Energy Recovery Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.