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.
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/2016/09/15/energy-recovery-inc-erii-sees-unusually-high-trading-volume.html
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.
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.