Energy Recovery (NASDAQ:ERII) Upgraded to “Strong-Buy” at Raymond James

Raymond James upgraded shares of Energy Recovery (NASDAQ:ERII) from an outperform rating to a strong-buy rating in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have $21.00 price objective on the industrial products company’s stock.

Separately, StockNews.com lowered shares of Energy Recovery from a hold rating to a sell rating in a research report on Friday, May 3rd.

Energy Recovery Price Performance

ERII stock opened at $14.37 on Tuesday. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $30.76. The firm has a fifty day moving average price of $13.35 and a two-hundred day moving average price of $14.88. The firm has a market cap of $823.83 million, a price-to-earnings ratio of 42.26 and a beta of 1.24.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. The firm had revenue of $12.09 million during the quarter, compared to analyst estimates of $12.49 million. Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. As a group, analysts expect that Energy Recovery will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $13.53, for a total value of $473,550.00. Following the completion of the sale, the director now directly owns 772,055 shares of the company’s stock, valued at approximately $10,445,904.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert Yu Lang Mao sold 21,045 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $13.86, for a total transaction of $291,683.70. Following the sale, the director now owns 236,099 shares in the company, valued at $3,272,332.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arve Hanstveit sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $13.53, for a total transaction of $473,550.00. Following the completion of the sale, the director now owns 772,055 shares of the company’s stock, valued at approximately $10,445,904.15. The disclosure for this sale can be found here. In the last three months, insiders sold 80,096 shares of company stock valued at $1,084,084. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC purchased a new stake in shares of Energy Recovery during the fourth quarter worth $117,000. ProShare Advisors LLC acquired a new position in Energy Recovery in the 1st quarter worth about $158,000. Lazard Asset Management LLC raised its stake in shares of Energy Recovery by 39.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 3,076 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Energy Recovery during the 3rd quarter valued at about $306,000. Finally, Martin Currie Ltd. bought a new stake in shares of Energy Recovery in the 4th quarter valued at approximately $276,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.