Todays Report: The Jefferies Group Comments on Energy Recovery Inc.’s Q3 2016 Earnings (ERII)

The Jefferies Group Comments on Energy Recovery Inc.’s Q3 2016 Earnings (ERII)

Energy Recovery Inc. (NASDAQ:ERII) – Stock analysts at Jefferies Group issued their Q3 2016 EPS estimates for shares of Energy Recovery in a research note issued to investors on Thursday. Jefferies Group analyst L. Alexander forecasts that the firm will post earnings per share of $0.03 for the quarter. Jefferies Group currently has a “Buy” rating and a $20.00 target price on the stock.

A number of other analysts have also recently weighed in on ERII. Zacks Investment Research upgraded Energy Recovery from a “strong sell” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 13th. FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a research report on Thursday, September 8th. Evercore ISI began coverage on Energy Recovery in a research report on Tuesday, September 27th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Iberia Capital began coverage on Energy Recovery in a research report on Monday, September 26th. They set an “outperform” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Energy Recovery currently has an average rating of “Buy” and an average price target of $17.00.

Energy Recovery (NASDAQ:ERII) traded down 2.348% during trading on Friday, hitting $13.515. The stock had a trading volume of 247,191 shares. The stock’s market cap is $703.51 million. The firm’s 50-day moving average price is $14.19 and its 200-day moving average price is $11.60. Energy Recovery has a 1-year low of $2.40 and a 1-year high of $16.67.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, August 3rd. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.06. The company had revenue of $13.20 million for the quarter, compared to the consensus estimate of $10.34 million. Energy Recovery had a positive return on equity of 3.97% and a negative net margin of 3.05%. Energy Recovery’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share.

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

A number of institutional investors have recently modified their holdings of ERII. Jane Street Group LLC raised its position in shares of Energy Recovery by 17.8% in the second quarter. Jane Street Group LLC now owns 14,059 shares of the company’s stock worth $125,000 after buying an additional 2,127 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Energy Recovery by 109.3% in the second quarter. Acrospire Investment Management LLC now owns 12,449 shares of the company’s stock worth $111,000 after buying an additional 6,500 shares during the last quarter. Menta Capital LLC purchased a new position in shares of Energy Recovery during the first quarter worth about $107,000. BlackRock Advisors LLC raised its position in shares of Energy Recovery by 200.2% in the second quarter. BlackRock Advisors LLC now owns 15,709 shares of the company’s stock worth $140,000 after buying an additional 10,477 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Energy Recovery during the third quarter worth about $185,000. 26.13% of the stock is owned by hedge funds and other institutional investors.

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