Energy Recovery Inc. (ERII) Stock Price Up 3.2%
Energy Recovery Inc. (NASDAQ:ERII)’s share price shot up 3.2% during trading on Thursday . The company traded as high as $9.50 and last traded at $9.41, with a volume of 244,223 shares. The stock had previously closed at $9.12.
A number of research firms have recently commented on ERII. FBR & Co began coverage on Energy Recovery in a research note on Thursday. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded Energy Recovery from a “strong sell” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Energy Recovery presently has a consensus rating of “Hold” and a consensus target price of $7.75.
The stock’s 50-day moving average is $9.52 and its 200 day moving average is $8.96. The stock’s market cap is $484.61 million.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.05. Equities research analysts anticipate that Energy Recovery Inc. will post $0.66 EPS for the current fiscal year.
In related news, VP Andrew B. Stroud, Jr. sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $11.11, for a total value of $29,997.00. Following the completion of the sale, the vice president now directly owns 14,241 shares in the company, valued at approximately $158,217.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hans Peter Michelet sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $9.14, for a total transaction of $1,371,000.00. Following the completion of the sale, the director now owns 225,000 shares of the company’s stock, valued at $2,056,500. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Energy Recovery stock. Morgan Stanley raised its position in Energy Recovery Inc. (NASDAQ:ERII) by 121.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,217 shares of the company’s stock after buying an additional 187,906 shares during the period. Morgan Stanley owned about 0.63% of Energy Recovery worth $2,426,000 at the end of the most recent reporting period.
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. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.