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Energy Recovery (NASDAQ:ERII) had its target price upped by Raymond James from $11.00 to $16.00 in a research report sent to investors on Friday, AR Network reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also commented on ERII. BidaskClub upgraded shares of Energy Recovery from a buy rating to a strong-buy rating in a research note on Tuesday, October 20th. Evercore ISI raised shares of Energy Recovery from an in-line rating to an outperform rating in a research note on Monday, January 4th. Finally, Zacks Investment Research raised shares of Energy Recovery from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Monday, November 2nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Energy Recovery currently has a consensus rating of Buy and an average price target of $12.17.

Shares of ERII stock remained flat at $$15.09 on Friday. The stock had a trading volume of 252,457 shares, compared to its average volume of 374,311. The stock has a market cap of $846.55 million, a PE ratio of 37.73 and a beta of 1.31. The stock’s fifty day moving average price is $12.38 and its 200 day moving average price is $9.47. Energy Recovery has a 1-year low of $6.11 and a 1-year high of $15.25.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. Energy Recovery had a net margin of 20.61% and a return on equity of 16.23%. The company had revenue of $27.41 million for the quarter, compared to analyst estimates of $24.12 million. On average, equities research analysts expect that Energy Recovery will post 0.49 earnings per share for the current fiscal year.

In related news, Director Alexander J. Buehler sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $10.28, for a total transaction of $514,000.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $102,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sherif Foda sold 16,726 shares of Energy Recovery stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $11.90, for a total transaction of $199,039.40. Following the sale, the director now owns 16,726 shares in the company, valued at $199,039.40. The disclosure for this sale can be found here. Insiders sold 101,226 shares of company stock valued at $1,186,379 in the last ninety days. Insiders own 17.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Smithfield Trust Co. increased its holdings in shares of Energy Recovery by 40.5% in the second quarter. Smithfield Trust Co. now owns 6,700 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,930 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Energy Recovery by 8.0% during the 3rd quarter. California State Teachers Retirement System now owns 60,767 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 4,509 shares during the period. Essex Investment Management Co. LLC lifted its stake in shares of Energy Recovery by 3.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 146,103 shares of the industrial products company’s stock worth $1,198,000 after purchasing an additional 4,551 shares during the period. California Public Employees Retirement System lifted its stake in shares of Energy Recovery by 8.7% during the 3rd quarter. California Public Employees Retirement System now owns 83,400 shares of the industrial products company’s stock worth $684,000 after purchasing an additional 6,700 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Energy Recovery by 574.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,749 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 7,452 shares during the period. Institutional investors and hedge funds own 38.32% of the company’s stock.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and markets various solutions for industrial fluid flow markets worldwide. The company operates through Water, and Oil & Gas segments. The Water segment designs, engineers, manufactures, and supplies various energy recovery devices (ERDs), including positive displacement isobaric ERDs and centrifugal-type ERDs; manufactures and supplies specialized high-pressure feed and circulation pumps that are used in the reverse osmosis desalination process; and provides various spare parts and repair, and field services, as well as engages in the various commissioning activities.

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