Olav Fjell Acquires 18,000 Shares of Energy Recovery, Inc. (ERII) Stock

Energy Recovery, Inc. (NASDAQ:ERII) Director Olav Fjell purchased 18,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average cost of $7.08 per share, with a total value of $127,440.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $127,440. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Energy Recovery, Inc. (NASDAQ ERII) opened at 6.90 on Friday. The company has a market capitalization 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 of $6.71 and a 200 day moving average of $7.70. Energy Recovery, Inc. has a one year low of $6.13 and a one year high of $16.67.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $12.20 million during 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 company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. On average, equities analysts forecast that Energy Recovery, Inc. will post $0.40 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Equities Focus and is the property of of Equities Focus. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.equitiesfocus.com/2017/09/17/olav-fjell-acquires-18000-shares-of-energy-recovery-inc-erii-stock.html.

Several research analysts have commented on ERII shares. FBR & Co set a $16.00 price target on shares of Energy Recovery and gave the company a “buy” rating in a report on Monday, August 28th. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price target (down from $20.00) on shares of Energy Recovery in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, JMP Securities started coverage on shares of Energy Recovery in a report on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Energy Recovery presently has an average rating of “Buy” and a consensus price target of $16.19.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Energy Recovery by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock worth $989,000 after purchasing an additional 741 shares in the last quarter. Chicago Equity Partners LLC increased its stake in shares of Energy Recovery by 1.5% in the first quarter. Chicago Equity Partners LLC now owns 60,755 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 910 shares in the last quarter. American International Group Inc. increased its stake in shares of Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 1,399 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Energy Recovery by 7.3% in the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 2,712 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Energy Recovery by 4.4% in the second quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock worth $569,000 after purchasing an additional 2,887 shares in the last quarter. 33.71% of the stock is owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for Energy Recovery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply