Energy Recovery Downgraded to “Underperform” at Zacks (ERII)
Energy Recovery (NASDAQ:ERII) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday. They currently have a $3.70 price target on the stock. Zacks‘s price objective points to a potential downside of 10.63% from the stock’s previous close.
A number of other analysts have also recently weighed in on ERII. Analysts at TheStreet upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Energy Recovery has a consensus rating of “Hold” and a consensus price target of $6.10.
Energy Recovery (NASDAQ:ERII) traded up 6.96% on Friday, hitting $4.15. The stock had a trading volume of 504,527 shares. Energy Recovery has a 52 week low of $3.60 and a 52 week high of $7.75. The stock has a 50-day moving average of $4.70 and a 200-day moving average of $4.92. The company’s market cap is $213.8 million.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.06) by $0.03. 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. Analysts expect that Energy Recovery will post $-0.02 EPS for the current fiscal year.
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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