Energy Recovery (ERII) Downgraded to Strong Sell at BidaskClub

BidaskClub cut shares of Energy Recovery (NASDAQ:ERII) from a sell rating to a strong sell rating in a research note published on Wednesday morning.

A number of other equities analysts have also issued reports on ERII. B. Riley reissued a buy rating and set a $20.00 price target (up previously from $16.00) on shares of Energy Recovery in a report on Wednesday, November 1st. FBR & Co reissued a buy rating on shares of Energy Recovery in a report on Wednesday, October 11th. ValuEngine raised Energy Recovery from a sell rating to a hold rating in a report on Thursday, November 2nd. Jefferies Group reissued a buy rating and set a $14.00 price target on shares of Energy Recovery in a report on Wednesday, December 20th. Finally, Zacks Investment Research lowered Energy Recovery from a strong-buy rating to a sell rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $15.63.

Energy Recovery (NASDAQ:ERII) opened at $7.89 on Wednesday. The stock has a market capitalization of $444.85, a PE ratio of 131.50 and a beta of 5.47. Energy Recovery has a twelve month low of $6.13 and a twelve month high of $11.30.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. analysts predict that Energy Recovery will post 0.05 earnings per share for the current fiscal year.

In related news, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $8.91, for a total transaction of $445,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the transaction, the vice president now directly owns 32,398 shares in the company, valued at approximately $356,378. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,117 shares of company stock worth $545,787. Corporate insiders own 23.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC acquired a new stake in Energy Recovery in the second quarter valued at about $117,000. Perigon Wealth Management LLC lifted its position in Energy Recovery by 149.7% in the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 9,099 shares during the period. GSA Capital Partners LLP acquired a new stake in Energy Recovery in the third quarter valued at about $130,000. Boothbay Fund Management LLC acquired a new stake in Energy Recovery in the third quarter valued at about $131,000. Finally, PEAK6 Investments L.P. acquired a new stake in Energy Recovery in the third quarter valued at about $150,000. Hedge funds and other institutional investors own 33.60% of the company’s stock.

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About Energy Recovery

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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