Energy Recovery (ERII) was Reiterated by FBR Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $14 . FBR Capital advised their investors in a research report released on Aug 8, 2016.
Many Wall Street Analysts have commented on Energy Recovery. FBR Capital Initiated Energy Recovery on Jul 15, 2016 to “Outperform”, Price Target of the shares are set at $14.
On the company’s financial health, Energy Recovery reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.04. The company had revenue of $13.20 million for the quarter, compared to analysts expectations of $10.12 million. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.
Energy Recovery opened for trading at $11.95 and hit $12.22 on the upside on Friday, eventually ending the session at $11.98, with a gain of 1.53% or 0.18 points. The heightened volatility saw the trading volume jump to 6,06,781 shares. Company has a market cap of $624 M.
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.