Energy Recovery, Inc. (NASDAQ:ERII)‘s stock had its “buy” rating reaffirmed by investment analysts at FBR & Co in a research note issued on Wednesday.

ERII has been the subject of several other reports. Capital One Financial Corporation began coverage on Energy Recovery in a research report on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price objective for the company. Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th. Finally, JMP Securities began coverage on Energy Recovery in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Energy Recovery presently has an average rating of “Buy” and an average price target of $16.50.

Energy Recovery (NASDAQ ERII) traded up 3.48% during mid-day trading on Wednesday, reaching $8.03. 315,600 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $7.13 and its 200 day moving average price is $7.60. Energy Recovery has a 12 month low of $6.13 and a 12 month high of $14.79. The stock has a market capitalization of $430.22 million, a PE ratio of 401.50 and a beta of 5.55.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The company had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $14.99 million. During the same period in the prior year, the business earned $0.01 earnings per share. Energy Recovery’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts predict that Energy Recovery will post $0.40 EPS for the current year.

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In related news, Director Olav Fjell acquired 18,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $127,440. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 23.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in Energy Recovery by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock worth $989,000 after acquiring an additional 741 shares in the last quarter. American International Group Inc. raised its stake in Energy Recovery by 7.1% during the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 1,399 shares in the last quarter. Rhumbline Advisers raised its stake in Energy Recovery by 7.3% during the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock worth $332,000 after acquiring an additional 2,712 shares in the last quarter. Teachers Advisors LLC raised its stake in Energy Recovery by 4.4% during the second quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock worth $569,000 after acquiring an additional 2,887 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in Energy Recovery by 729.0% during the second quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 2,916 shares in the last quarter. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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