ERII has been the topic of a number of other reports. BidaskClub downgraded shares of Energy Recovery from a buy rating to a hold rating in a research note on Tuesday, December 19th. ValuEngine raised shares of Energy Recovery from a sell rating to a hold rating in a research report on Friday. Zacks Investment Research raised shares of Energy Recovery from a hold rating to a strong-buy rating and set a $10.00 target price for the company in a research report on Wednesday, January 3rd. Finally, Jefferies Group reissued a buy rating and set a $14.00 target price on shares of Energy Recovery in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $15.63.
Energy Recovery (ERII) opened at $8.47 on Friday. Energy Recovery has a one year low of $6.13 and a one year high of $11.30. The stock has a market cap of $457.26, a P/E ratio of 121.00 and a beta of 5.35.
Energy Recovery announced that its board has approved a share buyback plan on Thursday, March 8th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Hans Peter Michelet sold 50,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $8.91, for a total transaction of $445,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 23.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Arlington Financial Advisors LLC purchased a new stake in Energy Recovery during the fourth quarter valued at approximately $1,003,000. Neuberger Berman Group LLC lifted its position in Energy Recovery by 200.0% during the third quarter. Neuberger Berman Group LLC now owns 60,000 shares of the industrial products company’s stock valued at $474,000 after acquiring an additional 40,000 shares during the last quarter. D.A. Davidson & CO. lifted its position in Energy Recovery by 20.1% during the third quarter. D.A. Davidson & CO. now owns 87,400 shares of the industrial products company’s stock valued at $690,000 after acquiring an additional 14,600 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in Energy Recovery during the fourth quarter valued at approximately $1,661,000. Finally, Virtu Financial LLC purchased a new position in shares of Energy Recovery in the fourth quarter worth $631,000. 36.68% of the stock is owned by institutional investors.
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Energy Recovery Company Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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