Seaport Global Securities Initiates Coverage on Energy Recovery, Inc. (ERII)
Equities researchers at Seaport Global Securities began coverage on shares of Energy Recovery, Inc. (NASDAQ:ERII) in a research report issued on Tuesday. The brokerage set a “buy” rating and a $17.00 price target on the industrial products company’s stock. Seaport Global Securities’ price target would suggest a potential upside of 100.47% from the company’s current price. Seaport Global Securities also issued estimates for Energy Recovery’s Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $0.31 EPS, Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at ($0.03) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at ($0.04) EPS, FY2018 earnings at $0.25 EPS, Q1 2019 earnings at $0.01 EPS, Q2 2019 earnings at $0.06 EPS, Q3 2019 earnings at $0.12 EPS and FY2019 earnings at $0.37 EPS.
ERII has been the topic of a number of other reports. Capital One Financial Corporation began coverage on Energy Recovery in a research note on Thursday, September 7th. They issued an “overweight” rating and a $16.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. FBR & Co set a $16.00 target price on Energy Recovery and gave the stock a “buy” rating in a research note on Monday, August 28th. JMP Securities began coverage on Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 target price on the stock. Finally, Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Energy Recovery presently has a consensus rating of “Buy” and a consensus target price of $16.57.
Shares of Energy Recovery (NASDAQ ERII) traded down 2.771% during trading on Tuesday, reaching $8.245. The company’s stock had a trading volume of 105,290 shares. Energy Recovery has a one year low of $6.13 and a one year high of $14.68. The firm has a market cap of $441.73 million, a P/E ratio of 284.310 and a beta of 5.55. The stock’s 50 day moving average is $7.43 and its 200 day moving average is $7.62.
Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The firm had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $14.99 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was down 7.6% on a year-over-year basis. On average, equities analysts forecast that Energy Recovery will post $0.40 EPS for the current fiscal year.
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In other Energy Recovery news, Director Olav Fjell purchased 18,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were purchased at an average cost of $7.08 per share, with a total value of $127,440.00. Following the completion of the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $127,440. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 23.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC lifted its holdings in shares of 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 valued at $400,000 after purchasing an additional 2,916 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Energy Recovery during the first quarter valued at $113,000. Parametric Portfolio Associates LLC bought a new position in shares of Energy Recovery during the second quarter valued at $117,000. Perigon Wealth Management LLC lifted its holdings in shares of Energy Recovery by 149.7% during the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 9,099 shares in the last quarter. Finally, National Planning Corp lifted its holdings in shares of Energy Recovery by 21.3% during the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 3,297 shares in the last quarter. 33.70% of the stock is currently owned by hedge funds and other institutional investors.
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.
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