Energy Recovery (NASDAQ:ERII) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a sell rating in a report published on Wednesday, BidAskClub reports.

Other equities analysts have also issued reports about the stock. JMP Securities set a $15.00 price target on shares of Energy Recovery and gave the company a buy rating in a research note on Thursday, October 10th. Evercore ISI reiterated a buy rating and issued a $18.00 price target on shares of Energy Recovery in a research note on Thursday, August 8th. ValuEngine upgraded shares of Energy Recovery from a hold rating to a buy rating in a research note on Monday, November 4th. Zacks Investment Research upgraded shares of Energy Recovery from a hold rating to a buy rating and set a $11.00 price target on the stock in a research note on Friday, November 8th. Finally, Raymond James assumed coverage on shares of Energy Recovery in a research note on Wednesday, October 23rd. They issued an outperform rating and a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Energy Recovery has an average rating of Buy and a consensus target price of $14.20.

Shares of Energy Recovery stock opened at $8.77 on Wednesday. The firm has a market capitalization of $487.77 million, a P/E ratio of 40.23 and a beta of 4.25. Energy Recovery has a 52 week low of $6.17 and a 52 week high of $12.04. The company has a quick ratio of 4.01, a current ratio of 4.32 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $9.39 and its two-hundred day moving average is $9.91.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $24.90 million for the quarter, compared to analyst estimates of $22.01 million. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, research analysts expect that Energy Recovery will post 0.17 earnings per share for the current fiscal year.

In other news, Director Arve Hanstveit sold 13,605 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $9.22, for a total value of $125,438.10. Following the completion of the sale, the director now directly owns 1,109,405 shares of the company’s stock, valued at $10,228,714.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 14,294 shares of company stock valued at $131,947 over the last three months. Corporate insiders own 23.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Trigran Investments Inc. boosted its holdings in shares of Energy Recovery by 1.2% in the second quarter. Trigran Investments Inc. now owns 3,149,018 shares of the industrial products company’s stock valued at $32,813,000 after acquiring an additional 36,715 shares during the period. BlackRock Inc. increased its holdings in Energy Recovery by 4.5% during the 2nd quarter. BlackRock Inc. now owns 2,518,679 shares of the industrial products company’s stock valued at $26,245,000 after purchasing an additional 107,783 shares in the last quarter. First Trust Advisors LP increased its holdings in Energy Recovery by 5.2% during the 3rd quarter. First Trust Advisors LP now owns 589,767 shares of the industrial products company’s stock valued at $5,464,000 after purchasing an additional 29,136 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Energy Recovery by 104.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 482,965 shares of the industrial products company’s stock valued at $5,033,000 after purchasing an additional 247,287 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Energy Recovery by 0.5% during the 2nd quarter. Northern Trust Corp now owns 454,372 shares of the industrial products company’s stock valued at $4,735,000 after purchasing an additional 2,157 shares in the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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