Energy Recovery (ERII) Sets New 12-Month High at $11.06

Share on StockTwits

Energy Recovery, Inc. (NASDAQ:ERII) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.06 and last traded at $11.01, with a volume of 22482 shares traded. The stock had previously closed at $10.48.

ERII has been the subject of several analyst reports. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. JMP Securities reissued a “buy” rating and issued a $13.00 price target on shares of Energy Recovery in a report on Monday, March 11th. ValuEngine raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, TheStreet raised shares of Energy Recovery from a “c+” rating to a “b” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.33.

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.55 and a current ratio of 4.85. The firm has a market cap of $600.35 million, a P/E ratio of 52.20 and a beta of 4.77.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $19.80 million during the quarter, compared to the consensus estimate of $15.98 million. Energy Recovery had a net margin of 39.35% and a return on equity of 11.72%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. As a group, equities analysts anticipate that Energy Recovery, Inc. will post 0.25 EPS for the current year.

In other news, Director Arve Hanstveit sold 139,042 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.50, for a total transaction of $1,181,857.00. Following the sale, the director now owns 1,134,842 shares in the company, valued at approximately $9,646,157. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Emily Smith sold 7,868 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $10.90, for a total transaction of $85,761.20. Following the sale, the vice president now owns 48,773 shares in the company, valued at approximately $531,625.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 258,437 shares of company stock worth $2,329,862. Corporate insiders own 23.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in Energy Recovery by 44.4% in the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 2,294 shares during the period. BNP Paribas Arbitrage SA raised its position in Energy Recovery by 53,485.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,502 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 7,488 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Energy Recovery by 262.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 7,083 shares during the period. SEI Investments Co raised its position in Energy Recovery by 22.5% in the 1st quarter. SEI Investments Co now owns 10,387 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 1,907 shares during the period. Finally, ETF Managers Group LLC raised its position in Energy Recovery by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2,163 shares during the period. Hedge funds and other institutional investors own 33.43% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://weekherald.com/2019/05/17/energy-recovery-erii-sets-new-12-month-high-at-11-06.html.

About Energy Recovery (NASDAQ:ERII)

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

See Also: Futures Contract

Receive News & Ratings for Energy Recovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery and related companies with MarketBeat.com's FREE daily email newsletter.