Energy Recovery (NASDAQ:ERII) Upgraded by Fearnley Fonds to Strong-Buy Rating

Energy Recovery (NASDAQ:ERII - Get Free Report) was upgraded by Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, May 20th,Zacks.com reports.

ERII has been the subject of a number of other research reports. Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. B. Riley cut shares of Energy Recovery from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $18.88.

Energy Recovery Stock Performance

Shares of Energy Recovery stock traded up $0.20 during midday trading on Tuesday, reaching $12.76. 122,566 shares of the company's stock traded hands, compared to its average volume of 422,798. The company has a market cap of $695.13 million, a price-to-earnings ratio of 37.47 and a beta of 1.09. The company's 50 day simple moving average is $14.57 and its 200 day simple moving average is $15.15. Energy Recovery has a 52 week low of $10.86 and a 52 week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business's revenue for the quarter was down 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. As a group, equities research analysts predict that Energy Recovery will post 0.36 earnings per share for the current year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now directly owns 693,182 shares of the company's stock, valued at $11,326,593.88. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela L. Tondreau bought 4,200 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $12.28 per share, for a total transaction of $51,576.00. Following the completion of the acquisition, the director now owns 41,043 shares in the company, valued at approximately $504,008.04. This trade represents a 11.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

Several hedge funds have recently bought and sold shares of the company. Nebula Research & Development LLC increased its holdings in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after buying an additional 687 shares during the period. Manchester Capital Management LLC boosted its stake in shares of Energy Recovery by 2.9% in the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 830 shares in the last quarter. Clear Creek Financial Management LLC boosted its stake in shares of Energy Recovery by 5.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 850 shares in the last quarter. DnB Asset Management AS boosted its stake in shares of Energy Recovery by 2.9% in the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock valued at $550,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Energy Recovery by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock valued at $1,440,000 after purchasing an additional 1,808 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

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.