November 23, 2016 - By whatsonthorold
Deal totalling nearly $1,149,160 U.S Dollars was made public in a report submitted to the U.S. Security & Exchange Commission on November 22, 2016. According to which, Hans Michelet, the director of Energy Recovery Inc also an insider of the company had unloaded a total of 100,000 shares – ( at $11.5 for share ). Hans Michelet now has in hand 50,000 shares of Energy Recovery Inc.
Out of 5 analysts covering Energy Recovery (NASDAQ:ERII), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $21 is the highest target while $3 is the lowest. The $15.08 average target is 27.69% above today’s ($11.81) stock price. Energy Recovery has been the topic of 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Iberia Capital Partners initiated the stock with “Outperform” rating in Monday, September 26 report. The firm earned “Hold” rating on Monday, August 10 by Ardour Capital. The firm has “Buy” rating given on Tuesday, September 13 by Jefferies. FBR Capital initiated it with “Outperform” rating and $14 target price in Friday, July 15 report. Credit Suisse upgraded the shares of ERII in a report on Wednesday, October 21 to “Outperform” rating. The rating was initiated by iBERIA Capital Partners with “Outperform” on Monday, September 26.
Insitutional Activity: The institutional sentiment increased to 1.68 in Q2 2016. Its up 0.42, from 1.26 in 2016Q1. The ratio improved, as 23 funds sold all Energy Recovery, Inc. shares owned while 23 reduced positions. 34 funds bought stakes while 24 increased positions. They now own 13.01 million shares or 26.70% more from 10.27 million shares in 2016Q1.
Moreover, Teacher Retirement Of Texas has 0% invested in Energy Recovery, Inc. (NASDAQ:ERII) for 4,709 shares. Venator Management Limited accumulated 559,100 shares or 4.19% of the stock. Eam Invsts has invested 0.09% of its portfolio in Energy Recovery, Inc. (NASDAQ:ERII). The New York-based Citigroup Inc has invested 0% in Energy Recovery, Inc. (NASDAQ:ERII). Bancorporation Of America De holds 0% or 1,058 shares in its portfolio. Avenir Corporation accumulated 0.15% or 209,550 shares. Gabelli Funds Limited Co holds 0% of its portfolio in Energy Recovery, Inc. (NASDAQ:ERII) for 80,000 shares. Planning Corporation holds 16,446 shares or 0.01% of its portfolio. Ladenburg Thalmann Financial Serv has 0% invested in the company for 1,285 shares. Jane Street Group Inc Lc accumulated 14,059 shares or 0% of the stock. The Texas-based Dimensional Fund Advsrs Lp has invested 0% in Energy Recovery, Inc. (NASDAQ:ERII). Alliancebernstein Lp holds 0% or 24,600 shares in its portfolio. Blackrock holds 0% or 1,312 shares in its portfolio. Credit Suisse Ag reported 53,166 shares or 0% of all its holdings. Ameriprise Fin holds 0% of its portfolio in Energy Recovery, Inc. (NASDAQ:ERII) for 174,925 shares.
Insider Transactions: Since May 24, 2016, the stock had 1 buy, and 4 insider sales for $1.71 million net activity. 24,500 Energy Recovery, Inc. (NASDAQ:ERII) shares with value of $319,762 were sold by BUEHLER ALEXANDER J. Shares for $48,177 were bought by Yeung William. Siebert Eric had bought 21,389 shares worth $203,427. Michelet Hans Peter had sold 150,000 shares worth $1.37 million on Tuesday, June 14.
The stock closed at $11.81 during the last session. It is down 7.37% since April 21, 2016 and is downtrending. It has underperformed by 12.70% the S&P500.
Energy Recovery, Inc. is an energy solutions well-known provider to industrial fluid flow markets. The company has a market cap of $633.29 million. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. It currently has negative earnings. It operates through two divisions: Water, and Oil & Gas.
According to Zacks Investment Research, “Based in San Leandro, California, ENERGY RECOVERY, INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery, Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology, specifically the ERI PX Pressure Exchanger, that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination, and are helping to make desalination affordable worldwide.”
More recent Energy Recovery, Inc. (NASDAQ:ERII) news were published by: Fool.com which released: “Why Energy Recovery, Inc. Stock Dropped 15%” on November 03, 2016. Also Prnewswire.com published the news titled: “Sherif Foda Joins Energy Recovery Board of Directors” on September 06, 2016. Prnewswire.com‘s news article titled: “Energy Recovery, Inc. SHAREHOLDER ALERT: Schubert Jonckheer & Kolbe LLP ..” with publication date: August 29, 2016 was also an interesting one.
Energy Recovery, Inc., incorporated on March 8, 2001, is an energy solutions well-known 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. The Firm operates through two divisions: Water, and Oil & Gas. The Company’s Water Segment focuses on products sold for use in reverse osmosis water desalination. The Company’s Oil & Gas Segment consists of products sold for use in gas processing, chemical processing, and hydraulic fracturing. The Firm offers energy recovery devices (ERDs) in the water desalination market with its pressure exchanger technology and turbochargers. The Firm offers VorTeq hydraulic fracturing system (VorTeq), IsoBoost, and IsoGen product lines to the gas and oil market. The Company’s clients include engineering, procurement and construction companies, original equipment manufacturers, international oil companies, national oil companies, and exploration and production companies. The Firm offers preventive maintenance and support services, as well as reinstallation services. The Company’s solutions are marketed and sold in fluid flow markets, such as water, gas and oil, and chemical processing, under the trademarks ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, IsoBoost, and IsoGen.
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