Stock Traders Buy Large Volume of Energy Recovery Put Options (ERII)
Energy Recovery, Inc. (NASDAQ:ERII) was the recipient of unusually large options trading on Monday. Investors purchased 1,310 put options on the stock. This is an increase of 803% compared to the typical volume of 145 put options.
Energy Recovery (NASDAQ ERII) opened at $10.57 on Thursday. Energy Recovery has a 52-week low of $6.13 and a 52-week high of $12.73. The firm has a market capitalization of $558.46, a PE ratio of 148.86, a price-to-earnings-growth ratio of 2.11 and a beta of 5.73.
Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.31). Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The firm had revenue of $15.08 million during the quarter, compared to analyst estimates of $14.64 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. equities research analysts predict that Energy Recovery will post 0.33 EPS for the current year.
A number of hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its position in Energy Recovery by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock worth $989,000 after purchasing an additional 741 shares during the last quarter. Rhumbline Advisers increased its position in Energy Recovery by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 2,712 shares during the last quarter. Teachers Advisors LLC increased its position in Energy Recovery by 4.4% in the 2nd quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock worth $569,000 after purchasing an additional 2,887 shares during the last quarter. Voya Investment Management LLC increased its position in Energy Recovery by 21.0% in the 2nd quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 3,293 shares during the last quarter. Finally, National Planning Corp increased its holdings in shares of Energy Recovery by 21.3% during the 2nd quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 3,297 shares during the last quarter. 33.58% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the company. Capital One Financial assumed coverage on Energy Recovery in a research note on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price objective for the company. Seaport Global Securities assumed coverage on Energy Recovery in a research note on Tuesday, October 17th. They issued a “buy” rating and a $17.00 price objective for the company. FBR & Co set a $16.00 price objective on Energy Recovery and gave the stock a “buy” rating in a research note on Monday, August 28th. B. Riley set a $20.00 price objective on Energy Recovery and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, ValuEngine raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.00.
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About Energy Recovery
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.
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