Jefferies Group upgraded shares of Energy Recovery Inc. (NASDAQ:ERII) from a hold rating to a buy rating in a report published on Tuesday. They currently have $20.00 target price on the stock, up from their prior target price of $8.00.

A number of other brokerages have also recently commented on ERII. FBR & Co reissued a buy rating on shares of Energy Recovery in a research note on Thursday, September 8th. Zacks Investment Research raised shares of Energy Recovery from a strong sell rating to a hold rating in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $15.00.

Energy Recovery (NASDAQ:ERII) opened at 14.57 on Tuesday. Energy Recovery has a 52-week low of $2.07 and a 52-week high of $14.73. The firm’s market capitalization is $758.43 million. The company’s 50-day moving average is $12.21 and its 200-day moving average is $10.67.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $13.20 million for the quarter, compared to analysts’ expectations of $10.34 million. Energy Recovery had a negative net margin of 3.05% and a positive return on equity of 3.97%. The firm’s revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. Equities analysts predict that Energy Recovery will post $0.67 earnings per share for the current year.

In other Energy Recovery news, Director Alexander J. Buehler sold 24,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $13.05, for a total transaction of $319,725.00. Following the sale, the director now directly owns 60,500 shares of the company’s stock, valued at approximately $789,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander J. Buehler sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. Following the sale, the director now directly owns 85,000 shares in the company, valued at $1,105,000. The disclosure for this sale can be found here. Company insiders own 26.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ERII. Bogle Investment Management L P DE bought a new stake in Energy Recovery during the first quarter valued at about $1,227,000. Alpine Partners VI LLC bought a new stake in Energy Recovery during the first quarter valued at about $174,000. Edmond DE Rothschild Holding S.A. bought a new stake in Energy Recovery during the first quarter valued at about $306,000. Menta Capital LLC bought a new stake in Energy Recovery during the first quarter valued at about $107,000. Finally, Strs Ohio bought a new stake in Energy Recovery during the second quarter valued at about $237,000. 26.13% of the stock is currently owned by institutional investors.

About Energy Recovery

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. It operates through two segments: Water, and Oil & Gas. Its Water Segment focuses on products sold for use in reverse osmosis water desalination.

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