Energy Recovery (ERII) Shares are Up 6.25%

Energy Recovery (ERII) : Traders are bullish on Energy Recovery (ERII) as it has outperformed the S&P 500 by a wide margin of 32.34% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.07%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.25% in the last 1 week, and is up 31.63% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 11.91% and the 50-Day Moving Average is 24.56%.The 200 Day SMA reached 61.74%


Energy Recovery (NASDAQ:ERII): The stock opened in the green at $16 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $16.1 and a low of $15.8301 for the day. The stock did not find buyers even at the lows and closed at $15.98 recording a loss of -0.19%. 933,551 shares exchanged hands during the trading day. The stock had closed at $15.98 in the previous days trading.

Energy Recovery (ERII) : The most positive equity analysts on Energy Recovery (ERII) expects the shares to touch $23, whereas, the least positive believes that the stock will trade at $16 in the short term. The company is covered by 4 Wall Street Brokerage Firms. The average price target for shares are $20 with an expected fluctuation of $2.94 from the mean.

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 Companys 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.