Energy Recovery, Inc. (NASDAQ:ERII).
On September 26 analysts at iBERIA Capital Partners released its first research report on the stock with an initial rating of “Outperform” and price target of $21.00. On September 13 the company was upgraded to “Buy” from “Hold” in a report issued by Jefferies.
FBR Capital initiated coverage on ERII setting a rating of “Outperform”. Equity analyst GMP Research started coverage giving it an initial rating of “Buy” and setting a price target of $12.00.
Equity analyst Credit Suisse raised the price target and upgraded the stock on October 21 changing the price objective from $3.00 to $10.00 and setting the rating at “Outperform” which had previously been “Neutral”.
The company is trading up by 5.60 percent from yesterday’s close. Shares are trading at $16.08 a bit higher than $13.24, the stock’s 50 day moving average and slightly over the 200 day moving average of $11.10. The 50 day moving average was up by +20.36% and the 200 day average went up $4.83 or +43.47%.
As of the last earnings report the EPS was $-0.03 and is expected to be $0.67 for the current year with 52,054,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.49 with next year’s EPS anticipated to be $0.39.
Investors are more bullish on Energy Recovery, Inc. of late if you look at the change in short interest. The firm saw a fall in short interest of -0.01% as of the latest report on September 15, 2016. Short shares decreased 57,626 over that timeframe. Days to cover decreased from 13.6 to 5.0 and the percentage of shorted shares was 0.08% on September 15.