Energy Recovery Inc. (NASDAQ:ERII) – Jefferies Group issued their Q3 2016 earnings per share estimates for shares of Energy Recovery in a research report issued to clients and investors on Thursday. Jefferies Group analyst L. Alexander forecasts that the firm will post earnings per share of $0.03 for the quarter. Jefferies Group currently has a “Buy” rating and a $20.00 target price on the stock.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.06. Energy Recovery had a negative net margin of 3.05% and a positive return on equity of 3.97%. The company had revenue of $13.20 million for the quarter, compared to analyst estimates of $10.34 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 25.7% compared to the same quarter last year.

ERII has been the subject of several other reports. FBR & Co began coverage on shares of Energy Recovery in a research note on Thursday, July 14th. They issued an “outperform” rating and a $14.00 price target for the company. Zacks Investment Research upgraded shares of Energy Recovery from a “strong sell” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, July 13th. Evercore ISI began coverage on shares of Energy Recovery in a research note on Tuesday, September 27th. They issued a “buy” rating and a $23.00 price target for the company. Finally, Iberia Capital started coverage on shares of Energy Recovery in a research note on Monday, September 26th. They issued an “outperform” rating and a $21.00 price target for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.00.

Energy Recovery (NASDAQ:ERII) traded down 2.348% during mid-day trading on Friday, hitting $13.515. 247,191 shares of the stock traded hands. Energy Recovery has a 1-year low of $2.40 and a 1-year high of $16.67. The stock’s market cap is $703.51 million. The company’s 50 day moving average price is $14.19 and its 200-day moving average price is $11.60.

In other news, Director Alexander J. Buehler sold 24,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $13.05, for a total transaction of $319,725.00. Following the sale, the director now owns 60,500 shares of the company’s stock, valued at approximately $789,525. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander J. Buehler sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $13.00, for a total transaction of $65,000.00. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $1,105,000. The disclosure for this sale can be found here. Insiders own 26.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Energy Recovery by 19.9% in the second quarter. Vanguard Group Inc. now owns 1,458,697 shares of the company’s stock worth $12,968,000 after buying an additional 242,467 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Energy Recovery by 996.3% in the second quarter. BlackRock Fund Advisors now owns 895,324 shares of the company’s stock worth $7,959,000 after buying an additional 813,653 shares during the last quarter. State Street Corp increased its stake in shares of Energy Recovery by 1,966.8% in the second quarter. State Street Corp now owns 501,932 shares of the company’s stock worth $4,462,000 after buying an additional 477,646 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Energy Recovery by 27.9% in the second quarter. California Public Employees Retirement System now owns 242,400 shares of the company’s stock worth $2,155,000 after buying an additional 52,900 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Energy Recovery during the second quarter worth about $1,933,000. 26.13% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Recovery

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. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.

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