Analysts at Jefferies Group upgraded shares of Energy Recovery Inc. (NASDAQ: ERII) from Hold to Buy on Tuesday, September 13. A number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $12.75 , lower than the opening price of $13.62. Typically, after analysts publish an upgrade report on a stock, they will subsequently issue other updates, such as price target changes.
U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.
The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.
The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.
Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares
Shares of Energy Recovery Inc. (NASDAQ: ERII) opened at $13.62 and traded in a range between, $13.37 and $14.20 on Friday, and last traded at $13.85, which represents a change of $ 1.16 over the previous closing price. Energy Recovery Inc.has a 52-week high of $14.29
Energy Recovery Inc. (NASDAQ: ERII) currently has a market cap of 720.95M
The stocks average daily volume is 579,612 shares out of a total float 49,108,000 of and some 951,244 shares traded hands yesterday, 49 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Energy Recovery Inc. (NASDAQ: ERII) now has a 50-day MA is $12.14 and 200-day MA is $10.63, and it has traded in a 52-week range between $2.07 – 14.29 and the last closing price is -0.03 percent off the 52 week high.
Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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