Energy Recovery (NASDAQ:ERII) Upgraded at StockNews.com

StockNews.com upgraded shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other equities analysts have also issued reports on the company. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. 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 MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.75.

Energy Recovery Stock Down 0.4 %

Shares of ERII stock opened at $15.89 on Friday. Energy Recovery has a 12 month low of $12.26 and a 12 month high of $20.27. The firm has a market cap of $873.23 million, a PE ratio of 46.74 and a beta of 1.21. The stock has a 50 day moving average of $15.35 and a 200-day moving average of $16.20.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities analysts predict that Energy Recovery will post 0.36 EPS for the current fiscal year.

Insider Activity

In other news, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. This represents a 16.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now directly owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

Several hedge funds have recently modified their holdings of ERII. Ameriprise Financial Inc. grew its position in Energy Recovery by 24.6% during the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock worth $72,823,000 after acquiring an additional 978,490 shares during the last quarter. Vanguard Group Inc. boosted its stake in Energy Recovery by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock worth $47,810,000 after purchasing an additional 43,290 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Energy Recovery by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after purchasing an additional 56,306 shares during the last quarter. KBC Group NV increased its stake in shares of Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after buying an additional 4,670 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of Energy Recovery by 27.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock valued at $16,462,000 after buying an additional 243,653 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Energy Recovery

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.