Energy Recovery Inc. (ERII) Receives $19.00 Average Target Price from Brokerages
Energy Recovery Inc. (NASDAQ:ERII) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the stock. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.00.
A number of brokerages recently commented on ERII. Evercore ISI began coverage on Energy Recovery in a research note on Tuesday, September 27th. They issued a “buy” rating and a $23.00 price target for the company. Zacks Investment Research lowered Energy Recovery from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. FBR & Co raised their price target on Energy Recovery from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Iberia Capital began coverage on Energy Recovery in a research note on Monday, September 26th. They issued an “outperform” rating and a $21.00 price target for the company. Finally, Jefferies Group raised Energy Recovery from a “hold” rating to a “buy” rating and raised their price target for the stock from $8.00 to $20.00 in a research note on Tuesday, September 13th.
Shares of Energy Recovery (NASDAQ:ERII) opened at 11.72 on Monday. Energy Recovery has a 1-year low of $5.28 and a 1-year high of $16.67. The stock has a 50 day moving average of $12.49 and a 200 day moving average of $11.73. The company’s market cap is $613.55 million.
In other news, General Counsel William Yeung acquired 4,770 shares of the stock in a transaction on Tuesday, November 8th. The stock was acquired at an average price of $10.10 per share, with a total value of $48,177.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 26.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP raised its position in Energy Recovery by 1,201.5% in the third quarter. Quantbot Technologies LP now owns 10,256 shares of the company’s stock valued at $163,000 after buying an additional 9,468 shares in the last quarter. SG Americas Securities LLC bought a new position in Energy Recovery during the third quarter valued at about $164,000. Fox Run Management L.L.C. bought a new position in Energy Recovery during the third quarter valued at about $185,000. Acrospire Investment Management LLC raised its position in Energy Recovery by 109.3% in the second quarter. Acrospire Investment Management LLC now owns 12,449 shares of the company’s stock valued at $111,000 after buying an additional 6,500 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Energy Recovery by 8.4% in the third quarter. BlackRock Group LTD now owns 12,480 shares of the company’s stock valued at $199,000 after buying an additional 970 shares in the last quarter. 29.50% 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. 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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