Energy Recovery (ERII) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $-0.04. The company posted revenue of $13.20 million in the period, 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.
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.
Energy Recovery closed down -0.18 points or -1.69% at $10.49 with 4,28,516 shares getting traded on Tusday. Post opening the session at $10.71, the shares hit an intraday low of $10.42 and an intraday high of $10.71 and the price fluctuated in this range throughout the day.Shares ended Tusday 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.