Energy Recovery (ERII) to Release Quarterly Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) is expected to announce its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $67.39 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $14.78 on Tuesday. Energy Recovery has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The business has a 50-day moving average of $14.80 and a two-hundred day moving average of $16.32. The stock has a market capitalization of $855.67 million, a P/E ratio of 43.47 and a beta of 1.18.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the transaction, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. The trade was a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ERII shares. Scotiabank started coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Evercore ISI cut their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, B. Riley cut their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Energy Recovery presently has a consensus rating of “Buy” and a consensus price target of $20.75.

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.