BidaskClub Lowers Energy Recovery (ERII) to Hold

BidaskClub downgraded shares of Energy Recovery (NASDAQ:ERII) from a buy rating to a hold rating in a research note published on Tuesday.

A number of other equities research analysts have also weighed in on the company. Seaport Global Securities initiated coverage on Energy Recovery in a research report on Tuesday, October 17th. They set a buy rating and a $17.00 target price for the company. JMP Securities initiated coverage on Energy Recovery in a research report on Tuesday, September 5th. They set an outperform rating and a $12.00 target price for the company. Capital One Financial initiated coverage on Energy Recovery in a research report on Thursday, September 7th. They set an overweight rating and a $16.00 target price for the company. B. Riley set a $20.00 target price on Energy Recovery and gave the company a buy rating in a research report on Thursday, November 30th. Finally, FBR & Co set a $16.00 target price on Energy Recovery and gave the company a buy rating in a research report on Monday, August 28th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $16.63.

Energy Recovery (NASDAQ:ERII) traded down $0.17 on Tuesday, reaching $8.88. The company had a trading volume of 173,270 shares, compared to its average volume of 433,723. Energy Recovery has a one year low of $6.13 and a one year high of $11.46. The stock has a market cap of $482.36, a PE ratio of 128.57, a P/E/G ratio of 4.07 and a beta of 5.73.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.31). The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. Energy Recovery’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. equities analysts anticipate that Energy Recovery will post 0.15 EPS for the current fiscal year.

In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the transaction, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its position in Energy Recovery by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock valued at $989,000 after buying an additional 741 shares in the last quarter. Rhumbline Advisers grew its stake in Energy Recovery by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 2,712 shares during the last quarter. Teachers Advisors LLC grew its stake in Energy Recovery by 4.4% during the 2nd quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock valued at $569,000 after purchasing an additional 2,887 shares during the last quarter. Voya Investment Management LLC grew its stake in Energy Recovery by 21.0% during the 2nd quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 3,293 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Energy Recovery by 17.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,143 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 4,805 shares during the last quarter. 33.58% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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