Company Update (NASDAQ:ERII):Energy Recovery Announces Chief Executive Officer Transition
(BUSINESS WIRE)–Jan. 13, 2015– Energy Recovery Inc. (NASDAQ:ERII) , the leader in pressure energy technology for industrial fluid flows, announced today that as part of its continuing diversification, Mr. Thomas S. Rooney, Jr. will be resigning as Chief Executive Officer to facilitate a transition during which the Company will identify and appoint a successor to further lead the Company’s efforts in the oil and gas industry while continuing to strengthen its market leading position in desalination. The Company’s Board of Directors will actively seek a Chief Executive Officer in the coming weeks and w… Read more »
Shares of Energy Recovery opened today at $4.44. ERII has a 1-year high of $6.98 and a 1-year low of $3.30. The stock’s 50-day moving average is $4.84 and it’s 200-day moving average is $4.48.
On the ratings front, Energy Recovery has been the subject of a number of recent research reports. In a report published on October 15, analyst Laurence Alexander from Jefferies Co. assigned a Hold rating to ERII, with a price target of $4, which implies a downside of 9.9% from current levels.
Energy Recovery, Inc. is engaged in designing, developing, and manufacturing of energy recovery devices that transform untapped energy into reusable energy from industrial fluid flows and pressure cycles.