Energy Recovery (ERII) was Initiated by Iberia to “Outperform” and the brokerage firm has set the Price Target at $21. Iberia advised their investors in a research report released on Sep 26, 2016.
Many Wall Street Analysts have commented on Energy Recovery. Company shares were Upgraded by Jefferies on Sep 13, 2016 to ” Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $8 .Company shares were Reiterated by FBR Capital on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .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 closed down -0.19 points or -1.18% at $15.92 with 9,79,631 shares getting traded on Thursday. Post opening the session at $16.29, the shares hit an intraday low of $15.715 and an intraday high of $16.49 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Aug 16, 2016, Alexander J Buehler (director) sold 500 shares at $13.01 per share price. According to the SEC, on Jun 16, 2016, Hans Peter Michelet (director) sold 150,000 shares at $9.14 per share price. On Jun 7, 2016, Chris M Gannon (CFO) purchased 6,350 shares at $10.96 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.