Zacks Investment Research upgraded shares of Energy Recovery Inc. (NASDAQ:ERII) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning. They currently have $16.00 price target on the stock.

According to Zacks, “Based in San Leandro, California, ENERGY RECOVERY, INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery, Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology, specifically the ERI PX Pressure Exchanger, that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination, and are helping to make desalination affordable worldwide. “

Several other research analysts have also commented on ERII. FBR & Co began coverage on shares of Energy Recovery in a research note on Thursday, July 14th. They set an outperform rating and a $14.00 price target on the stock. Jefferies Group upgraded shares of Energy Recovery from a hold rating to a buy rating and increased their price target for the stock from $8.00 to $20.00 in a research note on Tuesday, September 13th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $15.00.

Shares of Energy Recovery (NASDAQ:ERII) opened at 14.66 on Wednesday. Energy Recovery has a 52-week low of $2.07 and a 52-week high of $14.77. The stock has a 50 day moving average of $12.61 and a 200 day moving average of $10.86. The company’s market cap is $763.11 million.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $13.20 million for the quarter, compared to analyst estimates of $10.34 million. Energy Recovery had a negative net margin of 3.05% and a positive return on equity of 3.97%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. On average, equities analysts anticipate that Energy Recovery will post $0.67 earnings per share for the current fiscal year.

In related news, Director Alexander J. Buehler sold 24,500 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $13.05, for a total transaction of $319,725.00. Following the completion of the sale, the director now directly owns 60,500 shares of the company’s stock, valued at approximately $789,525. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexander J. Buehler sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $1,105,000. The disclosure for this sale can be found here. Insiders own 26.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of ERII. Menta Capital LLC purchased a new stake in Energy Recovery during the first quarter valued at about $107,000. Acrospire Investment Management LLC increased its stake in Energy Recovery by 109.3% in the second quarter. Acrospire Investment Management LLC now owns 12,449 shares of the company’s stock valued at $111,000 after buying an additional 6,500 shares in the last quarter. Jane Street Group LLC increased its stake in Energy Recovery by 17.8% in the second quarter. Jane Street Group LLC now owns 14,059 shares of the company’s stock valued at $125,000 after buying an additional 2,127 shares in the last quarter. BlackRock Advisors LLC increased its stake in Energy Recovery by 200.2% in the second quarter. BlackRock Advisors LLC now owns 15,709 shares of the company’s stock valued at $140,000 after buying an additional 10,477 shares in the last quarter. Finally, AHL Partners LLP purchased a new stake in Energy Recovery during the second quarter valued at about $143,000. 26.13% of the stock is owned by institutional investors and hedge funds.

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. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.

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