Energy Recovery (ERII) to Release Quarterly Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) will likely be issuing its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.42 per share and revenue of $67.39 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Energy Recovery Trading Up 0.9 %

Shares of NASDAQ ERII opened at $14.78 on Tuesday. The company has a market cap of $855.67 million, a price-to-earnings ratio of 43.47 and a beta of 1.18. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27. The stock’s 50 day simple moving average is $14.80 and its 200 day simple moving average is $16.32.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now directly owns 743,182 shares in the company, valued at $12,537,480.34. The trade was a 2.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The stock was 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. The trade was a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI cut their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Scotiabank assumed coverage on Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 target price on the stock. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. B. Riley dropped their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Recovery has an average rating of “Buy” and a consensus target price of $20.75.

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.