Energy Recovery (ERII) was Initiated by FBR Capital to “Outperform” and the brokerage firm has set the Price Target at $14. FBR Capital advised their investors in a research report released on Jul 15, 2016.
On the company’s financial health, Energy Recovery reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Mar 3, 2016. Analyst had a consensus of $-0.07. The company had revenue of $16.30 million for the quarter, compared to analysts expectations of $17.25 million. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.
Energy Recovery closed down -0.08 points or -0.87% at $9.12 with 2,93,388 shares getting traded on Wednesday. Post opening the session at $9.14, the shares hit an intraday low of $8.99 and an intraday high of $9.23 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jun 16, 2016, Hans Peter Michelet (director) sold 150,000 shares at $9.14 per share price. According to the SEC, on Jun 7, 2016, Chris M Gannon (CFO) purchased 6,350 shares at $10.96 per share price. On May 25, 2016, Eric Siebert (VP, Corporate Strategy) purchased 21,389 shares at $9.51 per share price, according to the Form-4 filing with the securities and exchange commission.
Energy Recovery Inc. (Energy Recovery) is engaged in providing pressure energy technology for industrial fluid flow applications. The Company designs develops and manufactures energy recovery devices that transform untapped energy into reusable energy from industrial fluid flows and pressure cycles. The Company’s energy recovery devices are primarily used in seawater reverse osmosis desalination. The Company also provides pumps to facilitate a packaged solution to its customers. Its products are marketed and sold in fluid flow markets such as desalination and oil and gas under the trademarks ERI PX Pressure Exchanger and PX Pressure Exchanger. The Company also provides engineering technical support and training to customers during product installation and plant commissioning. Additionally it offers preventive maintenance and support services as well as reinstallation services.