Energy Recovery (ERII) Releases Quarterly Earnings Results
Energy Recovery (NASDAQ:ERII) issued its quarterly earnings data on Wednesday. The company reported ($0.09) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.06) by $0.03, Analyst RN reports. The company had revenue of $6.41 million for the quarter, compared to the consensus estimate of $6.94 million. During the same quarter last year, the company posted ($0.03) earnings per share. Energy Recovery’s revenue was down 25.2% compared to the same quarter last year.
Energy Recovery (NASDAQ:ERII) traded up 0.49% during mid-day trading on Wednesday, hitting $4.13. The stock had a trading volume of 219,878 shares. Energy Recovery has a 52-week low of $3.82 and a 52-week high of $7.75. The stock’s 50-day moving average is $4.87 and its 200-day moving average is $4.9. The company’s market cap is $212.7 million.
ERII has been the subject of a number of recent research reports. Analysts at TheStreet upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average 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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