Energy Recovery, Inc. (NASDAQ:ERII) Coverage Initiated by Analysts at Capital One Financial Corporation

Capital One Financial Corporation started coverage on shares of Energy Recovery, Inc. (NASDAQ:ERII) in a report issued on Thursday, September 7th, Marketbeat Ratings reports. The firm set an “overweight” rating and a $16.00 price target on the industrial products company’s stock. Capital One Financial Corporation’s price objective would indicate a potential upside of 131.88% from the stock’s current price.

ERII has been the topic of several other reports. JMP Securities assumed coverage on shares of Energy Recovery in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price target on the stock. FBR & Co set a $16.00 price target on shares of Energy Recovery and gave the stock a “buy” rating in a research report on Monday, August 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price target (down from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of 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 given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $16.19.

Shares of Energy Recovery (NASDAQ:ERII) opened at 6.90 on Thursday. The company has a market cap of $369.67 million, a P/E ratio of 237.93 and a beta of 5.54. The firm has a 50 day moving average price of $6.71 and a 200-day moving average price of $7.70. Energy Recovery has a 12 month low of $6.13 and a 12 month high of $16.67.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $14.99 million. Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. Analysts anticipate that Energy Recovery will post $0.40 earnings per share for the current fiscal year.

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In related news, Director Olav Fjell acquired 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average price of $7.08 per share, for a total transaction of $127,440.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $127,440. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Perigon Wealth Management LLC raised its holdings in shares of 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. The Manufacturers Life Insurance Company raised its holdings in shares of Energy Recovery by 17.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,143 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 4,805 shares in the last quarter. State Street Corp raised its holdings in shares of Energy Recovery by 8.8% in the 2nd quarter. State Street Corp now owns 604,520 shares of the industrial products company’s stock valued at $5,014,000 after purchasing an additional 48,823 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Energy Recovery by 64.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock valued at $4,920,000 after purchasing an additional 233,625 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Energy Recovery by 21.0% in the 2nd quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 3,293 shares in the last quarter. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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