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

Energy Recovery (NASDAQ:ERII) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. Scotiabank started coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective on the stock. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. 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 presently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Down 1.4 %

ERII stock opened at $15.95 on Friday. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The stock has a market cap of $876.53 million, a price-to-earnings ratio of 46.91 and a beta of 1.21. The business has a fifty day moving average of $15.33 and a two-hundred day moving average of $16.20.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. As a group, sell-side analysts anticipate that Energy Recovery will post 0.36 EPS for the current year.

Insider Activity at Energy Recovery

In other news, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arve Hanstveit sold 50,000 shares of the 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 transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

Several large investors have recently bought and sold shares of the stock. Nebula Research & Development LLC increased its position in shares of Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 687 shares in the last quarter. Manchester Capital Management LLC grew its stake in Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after buying an additional 830 shares during the last quarter. DnB Asset Management AS increased its position in Energy Recovery by 2.9% during the fourth quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company’s stock worth $550,000 after buying an additional 1,050 shares during the period. Nordea Investment Management AB increased its position in Energy Recovery by 1.3% during the fourth quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock worth $1,859,000 after buying an additional 1,618 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Energy Recovery by 1.9% in the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock valued at $1,440,000 after buying an additional 1,808 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.