Energy Recovery (ERII) Projected to Post Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) is expected to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Energy Recovery to post earnings of $0.42 per share and revenue of $67.39 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Energy Recovery Trading Down 5.4 %

Shares of ERII opened at $14.65 on Monday. The firm has a market cap of $848.09 million, a PE ratio of 43.09 and a beta of 1.18. The firm has a fifty day simple moving average of $14.83 and a two-hundred day simple moving average of $16.33. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27.

Insiders Place Their Bets

In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI reduced their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Scotiabank assumed coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. B. Riley reduced their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Energy Recovery has an average rating of “Buy” and an average target price of $20.75.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.