Equities researchers at Capital One Financial Corporation started coverage on shares of Energy Recovery, Inc. (NASDAQ:ERII) in a report released on Thursday. The brokerage set an “overweight” rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on ERII. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price target (down previously from $20.00) on shares of Energy Recovery in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. FBR & Co set a $16.00 price objective on shares of Energy Recovery and gave the stock a “buy” rating in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Finally, JMP Securities initiated coverage on shares of Energy Recovery in a report on Tuesday. They issued an “outperform” rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.21.

Shares of Energy Recovery (NASDAQ ERII) traded up 1.12% during midday trading on Thursday, hitting $7.20. The company had a trading volume of 119,795 shares. The stock’s 50-day moving average price is $6.87 and its 200-day moving average price is $7.77. The stock has a market capitalization of $385.75 million, a price-to-earnings ratio of 248.28 and a beta of 5.54. Energy Recovery has a one year low of $6.13 and a one year high of $16.67.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Energy Recovery had a net margin of 3.07% and a return on equity of 2.43%. The company had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $14.99 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. Energy Recovery’s quarterly revenue was down 7.6% on a year-over-year basis. Analysts predict that Energy Recovery will post $0.39 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Alambic Investment Management L.P. bought a new position in shares of Energy Recovery in the first quarter worth approximately $104,000. Tudor Investment Corp ET AL bought a new position in Energy Recovery during the first quarter valued at approximately $113,000. Parametric Portfolio Associates LLC bought a new position in Energy Recovery during the second quarter valued at approximately $117,000. National Planning Corp lifted its position in Energy Recovery by 21.3% during the second quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 3,297 shares during the period. Finally, Voya Investment Management LLC lifted its position in Energy Recovery by 21.0% during the second quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 3,293 shares during the period. Hedge funds and other institutional investors own 33.71% 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.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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