Capital One Financial Corporation began coverage on shares of Energy Recovery, Inc. (NASDAQ:ERII) in a research report issued to clients and investors on Thursday, September 7th, Marketbeat.com reports. The brokerage set an “overweight” rating and a $16.00 price target on the industrial products company’s stock. Capital One Financial Corporation’s price objective would suggest a potential upside of 131.88% from the company’s previous close.
ERII has been the topic of a number of other research reports. FBR & Co set a $16.00 price objective on Energy Recovery and gave the stock a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th. Finally, JMP Securities began coverage on Energy Recovery in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Energy Recovery has an average rating of “Buy” and a consensus price target of $16.19.
Shares of Energy Recovery (NASDAQ ERII) traded up 0.29% during mid-day trading on Thursday, hitting $6.90. The stock had a trading volume of 1,078,463 shares. The stock has a 50 day moving average price of $6.71 and a 200 day moving average price of $7.70. Energy Recovery has a 52 week low of $6.13 and a 52 week high of $16.67. The firm has a market cap of $369.67 million, a PE ratio of 237.93 and a beta of 5.54.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The company had revenue of $12.20 million for the quarter, compared to the consensus estimate of $14.99 million. During the same quarter last year, the business posted $0.01 earnings per share. The firm’s revenue was down 7.6% compared to the same quarter last year. Equities research analysts expect that Energy Recovery will post $0.40 EPS for the current fiscal year.
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In other news, Director Olav Fjell purchased 18,000 shares of the stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $7.08 per share, for a total transaction of $127,440.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $127,440. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 23.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC raised its position in Energy Recovery by 729.0% during the second quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 2,916 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Energy Recovery during the first quarter valued at about $104,000. Tudor Investment Corp ET AL bought a new position in shares of Energy Recovery during the first quarter valued at about $113,000. Parametric Portfolio Associates LLC bought a new position in shares of Energy Recovery during the second quarter valued at about $117,000. Finally, Perigon Wealth Management LLC grew its stake in shares of Energy Recovery by 149.7% during the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after buying an additional 9,099 shares during the last quarter. Institutional investors and hedge funds own 33.71% of the company’s stock.
Energy Recovery Company Profile
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. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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