Wall Street analysts expect Energy Recovery, Inc. (NASDAQ:ERII) to post earnings of $0.04 per share for the current quarter, according to Zacks. Three analysts have made estimates for Energy Recovery’s earnings, with estimates ranging from $0.01 to $0.07. Energy Recovery posted earnings per share of $0.06 in the same quarter last year, which suggests a negative year-over-year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that Energy Recovery will report full year earnings of $0.06 per share for the current year, with EPS estimates ranging from $0.03 to $0.08. For the next financial year, analysts expect that the firm will report earnings of $0.27 per share, with EPS estimates ranging from $0.05 to $0.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Energy Recovery.
Several equities analysts have commented on ERII shares. Seaport Global Securities started coverage on shares of Energy Recovery in a research report on Tuesday, October 17th. They set a “buy” rating and a $17.00 price objective for the company. B. Riley set a $20.00 price objective on shares of Energy Recovery and gave the company a “buy” rating in a research report on Thursday, November 30th. Zacks Investment Research lowered shares of Energy Recovery from a “strong-buy” rating to a “sell” rating in a research report on Monday, January 8th. BidaskClub lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Jefferies Group reiterated a “buy” rating and set a $14.00 price objective on shares of Energy Recovery in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $15.63.
In other news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $11.00, for a total value of $78,287.00. Following the completion of the sale, the vice president now owns 32,398 shares in the company, valued at approximately $356,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $8.91, for a total transaction of $445,500.00. The disclosure for this sale can be found here. Insiders sold a total of 59,117 shares of company stock valued at $545,787 in the last 90 days. Company insiders own 23.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in shares of Energy Recovery in the 4th quarter worth about $101,000. Parametric Portfolio Associates LLC bought a new stake in shares of Energy Recovery in the 2nd quarter worth about $117,000. Perigon Wealth Management LLC lifted 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 worth $126,000 after acquiring an additional 9,099 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Energy Recovery in the 3rd quarter worth about $130,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Energy Recovery in the 3rd quarter worth about $131,000. Hedge funds and other institutional investors own 34.31% of the company’s stock.
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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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