Energy Recovery (ERII) Expected to Announce Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) is expected to issue its quarterly earnings data before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of $0.41 per share and revenue of $67.72 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Energy Recovery Trading Up 1.0 %

Shares of NASDAQ ERII opened at $14.86 on Wednesday. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27. The company has a market cap of $860.25 million, a PE ratio of 43.71 and a beta of 1.18. The stock has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $16.35.

Insider Activity

In other news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ERII. Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. B. Riley decreased their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.75.

Energy Recovery Company Profile

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.