Energy Recovery (NASDAQ:ERII) Upgraded 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 sent to investors on Saturday.

Several other equities analysts also recently commented on the company. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Energy Recovery has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Performance

Energy Recovery stock opened at $15.95 on Friday. Energy Recovery has a one year low of $12.26 and a one year high of $20.27. The company has a 50-day simple moving average of $15.33 and a 200-day simple moving average of $16.19. The firm has a market capitalization of $876.53 million, a P/E ratio of 46.91 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $67.39 million. As a group, sell-side analysts forecast that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction 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. The trade was a 16.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Energy Recovery by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock worth $8,150,000 after buying an additional 7,440 shares in the last quarter. HighTower Advisors LLC lifted its stake in Energy Recovery by 10.6% in the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 3,176 shares in the last quarter. Barclays PLC boosted its holdings in Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock valued at $1,681,000 after purchasing an additional 76,393 shares during the period. Geode Capital Management LLC grew its position in shares of Energy Recovery by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after purchasing an additional 56,306 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Energy Recovery by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock worth $4,780,000 after purchasing an additional 109,847 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.