Energy Recovery, Inc. (NASDAQ:ERII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Based in San Leandro, California, ENERGY RECOVERY, INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery, Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology, specifically the ERI PX Pressure Exchanger, that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination, and are helping to make desalination affordable worldwide. “

A number of other research firms have also recently issued reports on ERII. FBR & Co restated a “buy” rating and set a $16.00 price objective on shares of Energy Recovery in a research report on Monday, March 20th. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Evercore ISI restated an “outperform” rating and set a $20.00 price objective on shares of Energy Recovery in a research report on Wednesday, March 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.42.

Energy Recovery (NASDAQ:ERII) traded up 0.26% on Monday, reaching $7.86. 333,209 shares of the company’s stock traded hands. Energy Recovery has a 52 week low of $7.11 and a 52 week high of $16.67. The stock has a 50-day moving average of $7.87 and a 200 day moving average of $8.90. The firm has a market capitalization of $424.32 million, a P/E ratio of 167.23 and a beta of 5.54.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $12.26 million for the quarter, compared to the consensus estimate of $15.15 million. Energy Recovery had a net margin of 4.94% and a return on equity of 4.10%. On average, equities analysts expect that Energy Recovery will post $0.68 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in ERII. JPMorgan Chase & Co. boosted its stake in shares of Energy Recovery by 142.1% in the first quarter. JPMorgan Chase & Co. now owns 217,776 shares of the industrial products company’s stock worth $1,812,000 after buying an additional 127,836 shares during the period. Alambic Investment Management L.P. bought a new stake in shares of Energy Recovery during the first quarter worth $104,000. Virginia Retirement Systems ET AL bought a new stake in shares of Energy Recovery during the first quarter worth $835,000. Teza Capital Management LLC bought a new stake in shares of Energy Recovery during the first quarter worth $264,000. Finally, Chicago Equity Partners LLC boosted its stake in shares of Energy Recovery by 1.5% in the first quarter. Chicago Equity Partners LLC now owns 60,755 shares of the industrial products company’s stock worth $505,000 after buying an additional 910 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.

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