Energy Recovery, Inc. (ERII) Given “Buy” Rating at FBR & Co

FBR & Co restated their buy rating on shares of Energy Recovery, Inc. (NASDAQ:ERII) in a research report sent to investors on Wednesday morning.

A number of other research firms have also recently weighed in on ERII. BidaskClub upgraded shares of Energy Recovery from a sell rating to a hold rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Energy Recovery from a sell rating to a hold rating in a research report on Monday, July 10th. JMP Securities initiated coverage on shares of Energy Recovery in a research report on Tuesday, September 5th. They issued an outperform rating and a $12.00 price objective for the company. Jefferies Group LLC reaffirmed a buy rating and issued a $17.00 price objective (down from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th. Finally, Capital One Financial Corporation initiated coverage on shares of Energy Recovery in a research report on Thursday, September 7th. They issued an overweight rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $16.50.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The business had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $14.99 million. During the same period last year, the business earned $0.01 EPS. The company’s revenue was down 7.6% compared to the same quarter last year.

ILLEGAL ACTIVITY NOTICE: “Energy Recovery, Inc. (ERII) Given “Buy” Rating at FBR & Co” was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.com-unik.info/2017/10/12/energy-recovery-inc-erii-given-buy-rating-at-fbr-co.html.

In related news, Director Olav Fjell acquired 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $7.08 per share, with a total value of $127,440.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $127,440. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP purchased a new position in shares of Energy Recovery in the 2nd quarter valued at approximately $5,349,000. State Street Corp raised its position in shares of Energy Recovery by 8.8% in the 2nd quarter. State Street Corp now owns 604,520 shares of the industrial products company’s stock valued at $5,014,000 after purchasing an additional 48,823 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Energy Recovery by 64.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock valued at $4,920,000 after purchasing an additional 233,625 shares during the last quarter. Northern Trust Corp raised its position in shares of Energy Recovery by 10.9% in the 2nd quarter. Northern Trust Corp now owns 449,189 shares of the industrial products company’s stock valued at $3,724,000 after purchasing an additional 44,294 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Energy Recovery by 2,594.5% in the 1st quarter. Renaissance Technologies LLC now owns 441,900 shares of the industrial products company’s stock valued at $3,677,000 after purchasing an additional 425,500 shares during the last quarter. 33.70% of the stock is owned by hedge funds and other institutional investors.

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. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

What are top analysts saying about Energy Recovery Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Energy Recovery Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit