Published On: Fri, Sep 16th, 2016

Energy Recovery Inc. (ERII) Sees Unusually-High Trading Volume

Shares of Energy Recovery Inc. (NASDAQ:ERII) saw an uptick in trading volume on Thursday . 653,977 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 556,860 shares.The stock last traded at $14.48 and had previously closed at $13.64.
Several research firms have recently issued reports on ERII. FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a report on Thursday, September 8th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Wednesday. Finally, Jefferies Group upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating and increased their price objective for the company from $8.00 to $20.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Energy Recovery presently has a consensus rating of “Buy” and an average price target of $15.00.
The firm’s market capitalization is $749.06 million. The firm has a 50 day moving average price of $12.39 and a 200 day moving average price of $10.72.

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Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.06. Energy Recovery had a negative net margin of 3.05% and a positive return on equity of 3.97%. The business had revenue of $13.20 million for the quarter, compared to analyst estimates of $10.34 million. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue was up 25.7% on a year-over-year basis. On average, equities analysts predict that Energy Recovery Inc. will post $0.67 EPS for the current fiscal year.
In other Energy Recovery news, Director Alexander J. Buehler sold 24,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were 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 in the company, valued at $789,525. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander J. Buehler sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were 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 owns 85,000 shares in the company, valued at $1,105,000. The disclosure for this sale can be found here. Insiders own 26.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. purchased a new position in Energy Recovery during the second quarter worth approximately $477,000. Hillsdale Investment Management Inc. bought a new position in shares of Energy Recovery during the second quarter worth $251,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Energy Recovery during the second quarter worth $237,000. Point72 Asset Management L.P. bought a new position in shares of Energy Recovery during the second quarter worth $1,933,000. Finally, AHL Partners LLP bought a new position in shares of Energy Recovery during the second quarter worth $143,000. Hedge funds and other institutional investors own 26.13% of the company’s stock.
About Energy Recovery
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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