Energy Recovery, Inc. (NASDAQ:ERII) – Equities research analysts at Seaport Global Securities dropped their FY2017 earnings estimates for shares of Energy Recovery in a report issued on Tuesday. Seaport Global Securities analyst S. Randhawa now expects that the industrial products company will post earnings per share of $0.03 for the year, down from their prior estimate of $0.46. Seaport Global Securities currently has a “Buy” rating and a $17.00 target price on the stock. Seaport Global Securities also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.01 EPS, Q1 2018 earnings at $0.45 EPS and FY2018 earnings at $0.85 EPS.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. Energy Recovery’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share.

Several other research firms have also issued reports on ERII. B. Riley set a $20.00 price objective on Energy Recovery and gave the company a “buy” rating in a research note on Thursday, November 30th. BidaskClub lowered Energy Recovery from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Energy Recovery in a research note on Wednesday. FBR & Co reissued a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. Finally, Capital One Financial started coverage on Energy Recovery in a research note on Thursday, September 7th. They set an “overweight” rating and a $16.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Energy Recovery has an average rating of “Buy” and an average target price of $16.63.

Shares of Energy Recovery (ERII) opened at $9.00 on Thursday. The stock has a market capitalization of $487.18, a P/E ratio of 129.86, a PEG ratio of 1.84 and a beta of 5.73. Energy Recovery has a one year low of $6.13 and a one year high of $11.67.

Hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC bought a new stake in Energy Recovery during the 2nd quarter valued at $117,000. Perigon Wealth Management LLC raised its position in Energy Recovery by 149.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 9,099 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Energy Recovery during the 3rd quarter valued at $130,000. Boothbay Fund Management LLC bought a new stake in Energy Recovery during the 3rd quarter valued at $131,000. Finally, PEAK6 Investments L.P. bought a new stake in Energy Recovery during the 3rd quarter valued at $150,000. 33.58% of the stock is owned by institutional investors and hedge funds.

In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the completion of the sale, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.60% of the stock is currently owned by company insiders.

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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. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.

Earnings History and Estimates for Energy Recovery (NASDAQ:ERII)

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