Zacks Research lowered shares of Energy Recovery (NASDAQ:ERII – Free Report) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks reports.
A number of other equities research analysts have also weighed in on ERII. B. Riley Financial lowered their price objective on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Seaport Research Partners lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Monday, September 14th. Finally, Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $11.67.
View Our Latest Research Report on ERII
Energy Recovery Price Performance
NASDAQ:ERII opened at $6.71 on Wednesday. The business has a 50 day moving average of $7.03 and a 200 day moving average of $9.49. The company has a market capitalization of $345.83 million, a price-to-earnings ratio of 74.56 and a beta of 0.89. Energy Recovery has a 1-year low of $6.24 and a 1-year high of $16.30.
Energy Recovery (NASDAQ:ERII – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The industrial products company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Energy Recovery had a net margin of 5.15% and a return on equity of 2.74%. The business had revenue of $11.20 million for the quarter, compared to the consensus estimate of $16.16 million. As a group, sell-side analysts anticipate that Energy Recovery will post -0.17 EPS for the current year.
Hedge Funds Weigh In On Energy Recovery
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kopion Asset Management LLC raised its holdings in Energy Recovery by 59.2% during the 3rd quarter. Kopion Asset Management LLC now owns 1,018,133 shares of the industrial products company’s stock valued at $6,791,000 after buying an additional 378,588 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Energy Recovery in the 2nd quarter worth $1,399,000. Amundi grew its holdings in Energy Recovery by 7.0% in the 2nd quarter. Amundi now owns 4,003,535 shares of the industrial products company’s stock worth $36,094,000 after acquiring an additional 263,226 shares during the last quarter. Legal & General Group Plc bought a new stake in Energy Recovery in the 2nd quarter worth $18,579,000. Finally, Bank of America Corp DE bought a new stake in Energy Recovery in the 2nd quarter worth $1,049,000. 83.58% of the stock is currently owned by institutional investors.
About Energy Recovery
Energy Recovery, Inc develops and manufactures energy-efficiency technologies for industrial fluid-flow applications. The company is best known for its pressure exchanger systems, which capture hydraulic energy from high-pressure fluid streams and transfer it to lower-pressure incoming fluids. This process can reduce energy consumption and operating costs in demanding industrial environments.
Energy Recovery’s products are used extensively in seawater and brackish-water reverse-osmosis desalination, where its PX Pressure Exchanger technology helps recover energy from the high-pressure reject stream.
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