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Energy Recovery (NASDAQ:ERII) was upgraded by research analysts at TheStreet from a “sell” rating to a “hold” rating in a report released on Friday.

The analysts wrote, “Energy Recovery (ERII) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company’s cash flow from its operations has been weak overall.”

Energy Recovery (NASDAQ:ERII) traded down 0.96% during mid-day trading on Friday, hitting $5.18. The stock had a trading volume of 162,548 shares. Energy Recovery has a 1-year low of $3.82 and a 1-year high of $7.75. The stock’s 50-day moving average is $4.8 and its 200-day moving average is $4.96. The company’s market cap is $266.8 million.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $8.77 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was down 38.9% on a year-over-year basis. Analysts expect that Energy Recovery will post $-0.03 EPS for the current fiscal year.

In other Energy Recovery news, Director Dominique Trempont bought 21,571 shares of Energy Recovery stock in a transaction dated Friday, May 30th. The stock was purchased at an average price of $5.15 per share, with a total value of $111,090.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Energy Recovery from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 6th. They now have a $5.80 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Energy Recovery from $5.00 to $6.50 in a research note on Tuesday, March 11th. Finally, analysts at Ardour Capital upgraded shares of Energy Recovery from a “hold” rating to an “accumulate” rating in a research note on Friday, March 7th. They now have a $7.50 price target on the stock, up previously from $4.50. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.52.

Energy Recovery, Inc is engaged in developing, manufacturing and selling of energy recovery devices and circulation pumps primarily for uses in seawater desalination plants that use reverse osmosis technology.

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