Energy Recovery (ERII) Cut to Sell at BidaskClub

Energy Recovery (NASDAQ:ERII) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Other equities analysts have also issued reports about the company. B. Riley reaffirmed a “buy” rating and set a $20.00 price target (up from $16.00) on shares of Energy Recovery in a research note on Wednesday, November 1st. Seaport Global Securities initiated coverage on Energy Recovery in a research note on Tuesday, October 17th. They set a “buy” rating and a $17.00 price target for the company. FBR & Co reaffirmed a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. Jefferies Group reaffirmed a “buy” rating and set a $14.00 price target on shares of Energy Recovery in a research note on Wednesday, December 20th. Finally, ValuEngine raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.63.

Energy Recovery (NASDAQ ERII) traded up $0.13 on Friday, reaching $8.81. The company had a trading volume of 287,985 shares, compared to its average volume of 438,620. Energy Recovery has a 12-month low of $6.13 and a 12-month high of $11.30. The firm has a market cap of $472.17, a PE ratio of 146.83 and a beta of 5.73.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The firm had revenue of $15.08 million for the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) earnings per share. equities research analysts predict that Energy Recovery will post 0.05 EPS for the current fiscal year.

In other news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the completion of the sale, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $8.91, for a total value of $445,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,117 shares of company stock valued at $545,787. Corporate insiders own 23.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heartland Advisors Inc. boosted its stake in shares of Energy Recovery by 183.3% during the 3rd quarter. Heartland Advisors Inc. now owns 850,000 shares of the industrial products company’s stock worth $6,715,000 after acquiring an additional 550,000 shares in the last quarter. 683 Capital Management LLC boosted its stake in shares of Energy Recovery by 115.3% during the 3rd quarter. 683 Capital Management LLC now owns 700,100 shares of the industrial products company’s stock worth $5,531,000 after acquiring an additional 374,900 shares in the last quarter. State Street Corp boosted its stake in shares of Energy Recovery by 8.8% during the 2nd quarter. State Street Corp now owns 604,520 shares of the industrial products company’s stock worth $5,014,000 after acquiring an additional 48,823 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Energy Recovery by 64.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock worth $4,920,000 after acquiring an additional 233,625 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Energy Recovery by 10.9% during the 2nd quarter. Northern Trust Corp now owns 449,189 shares of the industrial products company’s stock worth $3,724,000 after acquiring an additional 44,294 shares in the last quarter. 33.58% of the stock is owned by institutional investors and hedge funds.

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Energy Recovery Company Profile

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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