On Jan. 04, Hanstveit Arve divested U.S. $357,295 in shares of Energy Recovery Inc.. The Dir sold 25,000 shares at a price per share of $14.29. The transaction decreased this specific insider’s holdings to 974,733 shares worth around $14.08 million at present.
Evercore ISI took its Energy Recovery Inc. [ERII] rating to the equivalent of an Outperform from an In-line, in a research note dated January 04, 2021. Other analysts also revised their coverage, with Evercore ISI’s analysts upgrading the shares from “an In-line” rating to “an Outperform” rating in a research note to investors issued in early January. Meanwhile, B. Riley FBR had lowered its rating on ERII to “Neutral” from the earlier “Buy”, in a research note produced for clients June 30, 2020. In addition, there was a downgrade from Evercore ISI on March 09, 2020. The rater changed ERII from “an Outperform” to “an In-line”.
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Is Energy Recovery Inc. [NASDAQ:ERII] a Good Buy Right Now?
It should be noted that ERII technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Energy Recovery Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.3 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.24 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.23 million shares.
ERII Price Performance
On Wall Street, Energy Recovery Inc. [NASDAQ:ERII] finished Wednesday’s session down 0.00% at $14.45. The stock went up to $14.78 at the same session while its lowest single day price was $14.18. In the last five days, it saw a rise of about 10.22%, Energy Recovery Inc. shares gained by almost 5.94% since the beginning of the year. However, the share price has dropped to as low as -0.89% below its one year high. On 01/06/21, the company shares recorded $14.78, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $13.57. The company’s shares have inclined by 47.60% in the past year. The 50-day SMA achieved is $11.44 while the 200-day SMA is $8.90. Volume gained to 0.42 million from 0.33 million in the previous session.
Energy Recovery Inc. [ERII] Valuation Measures
Notably, Energy Recovery Inc. [ERII] stock cannot be classified as a good candidate in the listing of underestimated low-priced Pollution & Treatment Controls companies to purchase soonest possible with the prevailing 12-month PE ratio of 36.49. The measure means the stock is exchanging at a premium as compared to the 25.67x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 7.02 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.34 which means ERII serve an unattractive investment opportunity compared to its competitors.
ERII Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 14.16 level, and in case of violation of this particular level, it will cause more drop to 13.87 level. On the upper level, 15.07 is still the key resistance. The stock may increase to the subsequent resistance at 14.76. The Relative Strength Index (RSI) pinned on the 14-day chart is 77.22, implying a overbought technical stance while the MACD stands at 0.69, meaning price will decrease in the next trading period. Percent R indicator moved to 14.04%, implying bullish price movement. Stochastic %K at 80.82% suggest selling the stock.
What is the short interest in Energy Recovery Inc.?
Short interest in the Energy Recovery Inc. stock has surged, increasing by 0.0 shares to total 2.83 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.83 million, data from Yahoo Finance shows. The decrease of 0.0% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.76% of the overall float for the stock.
Energy Recovery Inc.’s Biggest Shareholders: Who Owns Energy Recovery Inc. [ERII]?
Filings by Trigran Investments, Inc. showed that the firm now holds a total of 5,659,029 shares or roughly 10.09% of the outstanding ERII shares. This means their shares have increased by 138,621 from the 5,659,029 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $25,329,001. Details in the latest 13F filings reveal that The Vanguard Group, Inc. disposed off their -0.37% stake valued at $22,346,213 while Avenir Corp. added theirs at $16,832,352. During the last quarter, The Vanguard Group, Inc. liquidated -7,701 of its shares in Energy Recovery Inc. while Avenir Corp. bought 813 shares. The Sissener AS’s holdings currently number 1,200,000 shares at $17340000.0. According to the firm’s last 13F report, Mellon Investments Corp. shares in the company at filing stood at 886,011 shares, roughly $9,453,737.
ERII Earnings Forecast For The Current Quarter
Energy Recovery Inc. [ERII] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $25.06M and an earnings per share of $0.03 for Dec 2020. Looking further ahead, the company is expected to report revenue of $21.31M at an EPS of $0.01 for Mar 2021. The estimates represent upside of -14.10% and -68.37% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ERII Earnings Estimates For The Current Year
For the financial year, Energy Recovery Inc. [NASDAQ:ERII] is expected to bring in revenue of $117.5M. The returns are nearly $30.56 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.49, higher than that of FY19 by $0.31. Estimates put this year’s earnings growth at 172.20%, -59.20% for the next, and at an annual 20.00% over the next 5-year period. As for sales, forecasts are for an increase of 35.10% in the current fiscal year and a further -14.10% over the following year.
What are analyst thoughts on Energy Recovery Inc.?
Looking forward to the Energy Recovery Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Energy Recovery Inc. stock at $11.50 within the next 12 months, which represents almost -25.65 per cent growth from its previous closing price of $14.45. The highest analysts’ target for Energy Recovery Inc. stock projections is $16.00 and the lowest one is $11.00. Still, 4 analysts sharing their consensus rating for ERII stock in 2021 agree that it is an Overweight.