Energy Recovery, Inc. (ERII) Expected to Post Quarterly Sales of $25.95 Million

Equities analysts predict that Energy Recovery, Inc. (NASDAQ:ERII) will announce sales of $25.95 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Energy Recovery’s earnings, with estimates ranging from $15.70 million to $44.25 million. Energy Recovery reported sales of $16.67 million in the same quarter last year, which indicates a positive year over year growth rate of 55.7%. The business is expected to report its next earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that Energy Recovery will report full year sales of $25.95 million for the current fiscal year, with estimates ranging from $54.90 million to $85.02 million. For the next fiscal year, analysts expect that the firm will report sales of $88.92 million per share, with estimates ranging from $54.90 million to $113.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Energy Recovery.

A number of research firms have commented on ERII. BidaskClub cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Seaport Global Securities began coverage on shares of Energy Recovery in a research note on Tuesday, October 17th. They set a “buy” rating and a $17.00 target price on the stock. B. Riley set a $20.00 target price on shares of Energy Recovery and gave the stock a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $15.63.

In other news, VP Andrew B. Stroud, Jr. sold 7,117 shares of Energy Recovery stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $11.00, for a total transaction of $78,287.00. Following the sale, the vice president now owns 32,398 shares in the company, valued at $356,378. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Hans Peter Michelet sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $8.91, for a total transaction of $445,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,117 shares of company stock worth $545,787. Company insiders own 23.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Energy Recovery during the fourth quarter valued at approximately $2,604,000. Virtu Financial LLC bought a new stake in shares of Energy Recovery during the fourth quarter valued at approximately $631,000. BlackRock Inc. raised its position in shares of Energy Recovery by 1.2% during the fourth quarter. BlackRock Inc. now owns 2,204,184 shares of the industrial products company’s stock valued at $19,287,000 after buying an additional 26,017 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Energy Recovery by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 129,486 shares of the industrial products company’s stock valued at $1,133,000 after buying an additional 8,359 shares during the last quarter. Finally, Advisory Research Inc. bought a new stake in shares of Energy Recovery during the fourth quarter valued at approximately $1,079,000. Hedge funds and other institutional investors own 34.31% of the company’s stock.

Shares of Energy Recovery (NASDAQ ERII) opened at $7.16 on Tuesday. Energy Recovery has a one year low of $6.13 and a one year high of $11.30. The company has a market cap of $382.13, a P/E ratio of 101.86 and a beta of 5.48.

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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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