Energy Recovery, Inc. (NASDAQ:ERII) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, July 27th.
Separately, Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.42.
Energy Recovery (NASDAQ:ERII) traded down 1.65% on Thursday, hitting $6.57. The company had a trading volume of 328,211 shares. The firm’s 50 day moving average price is $7.82 and its 200 day moving average price is $8.35. Energy Recovery has a 12-month low of $6.53 and a 12-month high of $16.67. The stock has a market cap of $351.97 million, a P/E ratio of 226.55 and a beta of 5.51.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The company had revenue of $12.20 million during the quarter, compared to the consensus estimate of $14.99 million. Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. Equities analysts predict that Energy Recovery will post $0.68 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of ERII. Alambic Investment Management L.P. bought a new stake in Energy Recovery during the first quarter worth approximately $104,000. Tudor Investment Corp ET AL bought a new stake in Energy Recovery during the first quarter worth approximately $113,000. Russell Investments Group Ltd. bought a new stake in Energy Recovery during the fourth quarter worth approximately $127,000. National Planning Corp boosted its stake in Energy Recovery by 21.3% in the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock worth $157,000 after buying an additional 3,297 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in Energy Recovery during the first quarter worth approximately $166,000. Institutional investors own 31.86% of the company’s stock.
Energy Recovery Company Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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