Revenue Update on Energy Recovery(NASDAQ:ERII)

Energy Recovery(NASDAQ:ERII) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $13.22M. Analysts estimated a revenue of $10.34M. Earnings per share were $0.01. Analysts had estimated an EPS of $-0.05.

In a different note, FBR Capital said it Initiates Coverage on Energy Recovery, according to a research note issued on Jul 15, 2016. The shares have been rated ‘Outperform’ by the firm.

Energy Recovery (ERII) shares turned negative on Fridays trading session with the shares closing down -0.26 points or -2.00% at a volume of 2,45,509. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.02. The peak price level was also seen at $13.02 while the days lowest was $12.6. Finally the shares closed at $12.72. The 52-week high of the shares is $13.35 while the 52-week low is $2.07. According to the latest information available, the market cap of the company is $662 M.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Hans Peter Michelet (director) sold 150,000 shares at $9.14 per share price.Also, On Jun 7, 2016, Chris M Gannon (CFO) purchased 6,350 shares at $10.96 per share price.On May 25, 2016, Eric Siebert (VP, Corporate Strategy) purchased 21,389 shares at $9.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Energy Recovery Inc. (Energy Recovery) is engaged in providing pressure energy technology for industrial fluid flow applications. The Company designs develops and manufactures energy recovery devices that transform untapped energy into reusable energy from industrial fluid flows and pressure cycles. The Company’s energy recovery devices are primarily used in seawater reverse osmosis desalination. The Company also provides pumps to facilitate a packaged solution to its customers. Its products are marketed and sold in fluid flow markets such as desalination and oil and gas under the trademarks ERI PX Pressure Exchanger and PX Pressure Exchanger. The Company also provides engineering technical support and training to customers during product installation and plant commissioning. Additionally it offers preventive maintenance and support services as well as reinstallation services.

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