B. Riley Boosts Energy Recovery, Inc. (ERII) Price Target to $20.00

Energy Recovery, Inc. (NASDAQ:ERII) had its price target upped by B. Riley from $16.00 to $20.00 in a research report report published on Wednesday, November 8th, StockTargetPrices.com reports. They currently have a buy rating on the industrial products company’s stock. B. Riley also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $0.43 EPS, Q2 2018 earnings at $0.37 EPS and Q3 2018 earnings at $0.05 EPS.

Other research analysts also recently issued reports about the company. JMP Securities began coverage on Energy Recovery in a research note on Tuesday, September 5th. They issued an outperform rating and a $12.00 price objective for the company. Seaport Global Securities began coverage on Energy Recovery in a report on Tuesday, October 17th. They issued a buy rating and a $17.00 target price for the company. FBR & Co restated a buy rating on shares of Energy Recovery in a report on Wednesday, October 11th. BidaskClub cut Energy Recovery from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC restated a buy rating and issued a $17.00 target price (down from $20.00) on shares of Energy Recovery in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Energy Recovery presently has a consensus rating of Buy and a consensus price target of $17.00.

Shares of Energy Recovery (ERII) traded down $0.10 during trading hours on Wednesday, reaching $9.51. The company’s stock had a trading volume of 209,444 shares, compared to its average volume of 420,625. Energy Recovery has a one year low of $6.13 and a one year high of $12.73. The firm has a market capitalization of $515.05, a P/E ratio of 137.29, a PEG ratio of 1.94 and a beta of 5.59.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $15.08 million for 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 company’s quarterly revenue was up 22.9% compared to the same quarter last year. equities analysts expect that Energy Recovery will post 0.33 EPS for the current fiscal year.

In other Energy Recovery news, Director Olav Fjell purchased 18,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at approximately $127,440. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 23.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Harbour Capital Advisors LLC raised its position in Energy Recovery by 729.0% in the 2nd 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 acquired a new stake in Energy Recovery in the 1st quarter valued at about $113,000. Parametric Portfolio Associates LLC acquired a new stake in Energy Recovery in the 2nd quarter valued at about $117,000. Perigon Wealth Management LLC raised its position in Energy Recovery by 149.7% in the 2nd 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, GSA Capital Partners LLP acquired a new stake in Energy Recovery in the 3rd quarter valued at about $130,000. 30.33% of the stock is currently owned by institutional investors.

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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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