Energy Recovery (NASDAQ:ERII) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a buy rating in a research report released on Saturday.

A number of other brokerages have also recently issued reports on ERII. Scotiabank started coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective on the stock. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Recovery presently has an average rating of “Buy” and an average target price of $20.75.

Energy Recovery Stock Performance

NASDAQ ERII opened at $15.89 on Friday. The stock has a market capitalization of $873.23 million, a P/E ratio of 46.74 and a beta of 1.21. Energy Recovery has a 52 week low of $12.26 and a 52 week high of $20.27. The stock has a fifty day moving average of $15.35 and a 200-day moving average of $16.20.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Equities research analysts forecast that Energy Recovery will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Energy Recovery

In other news, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now directly owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Nebula Research & Development LLC increased its position in shares of Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 687 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 830 shares in the last quarter. DnB Asset Management AS boosted its holdings in shares of Energy Recovery by 2.9% in the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company’s stock valued at $550,000 after buying an additional 1,050 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Energy Recovery by 1.3% in the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock valued at $1,859,000 after buying an additional 1,618 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Energy Recovery by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock worth $1,440,000 after buying an additional 1,808 shares during the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

About Energy Recovery

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.