Energy Recovery (NASDAQ:ERII) Lifted 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 published on Tuesday, MarketBeat.com reports. The firm currently has $21.00 price target 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 report on Friday, May 3rd.

Energy Recovery Stock Up 4.9 %

Energy Recovery stock opened at $14.31 on Tuesday. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $30.76. The firm has a market capitalization of $820.39 million, a price-to-earnings ratio of 42.09 and a beta of 1.24. The company has a fifty day simple moving average of $13.34 and a 200-day simple moving average of $14.91.

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

Insider Activity at Energy Recovery

In related news, CFO Joshua Ballard sold 4,051 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.54, for a total value of $54,850.54. Following the completion of the sale, the chief financial officer now owns 40,376 shares of the company’s stock, valued at $546,691.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Joshua Ballard sold 4,051 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.54, for a total value of $54,850.54. Following the completion of the sale, the chief financial officer now owns 40,376 shares of the company’s stock, valued at $546,691.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Yu Lang Mao sold 21,045 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $13.86, for a total transaction of $291,683.70. Following the completion of the sale, the director now directly owns 236,099 shares of the company’s stock, valued at approximately $3,272,332.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,096 shares of company stock valued at $1,084,084. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Elkhorn Partners Limited Partnership acquired a new stake in shares of Energy Recovery during the first quarter worth about $1,174,000. Price T Rowe Associates Inc. MD lifted its position in shares of Energy Recovery by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,756 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 2,018 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Energy Recovery by 39.6% during the first 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. Vanguard Group Inc. lifted its position in shares of Energy Recovery by 1.8% during the first quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after purchasing an additional 53,720 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its position in shares of Energy Recovery by 23.2% during the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,438 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Energy Recovery

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.