Energy Recovery (NASDAQ:ERII) Lowered to “Hold” at Zacks Investment Research

Energy Recovery (NASDAQ:ERII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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. “

Several other analysts also recently issued reports on the company. Evercore ISI reiterated a “buy” rating and issued a $18.00 price target on shares of Energy Recovery in a report on Thursday, August 8th. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, September 6th. ValuEngine downgraded Energy Recovery from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. B. Riley set a $15.00 price target on Energy Recovery and gave the company a “buy” rating in a report on Monday, July 15th. Finally, JMP Securities set a $15.00 price target on Energy Recovery and gave the company a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.75.

NASDAQ ERII traded down $0.09 during trading hours on Friday, hitting $9.69. The company had a trading volume of 98,931 shares, compared to its average volume of 209,461. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $12.04. The company has a market capitalization of $532.34 million, a price-to-earnings ratio of 48.43 and a beta of 4.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.09 and a quick ratio of 4.76. The firm’s 50 day moving average is $9.52 and its 200 day moving average is $9.89.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Energy Recovery had a return on equity of 10.89% and a net margin of 20.21%. The firm had revenue of $22.80 million during the quarter, compared to the consensus estimate of $20.53 million. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Energy Recovery will post 0.12 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Energy Recovery during the second quarter valued at about $131,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Energy Recovery during the second quarter valued at about $147,000. SFE Investment Counsel grew its stake in shares of Energy Recovery by 27.5% during the second quarter. SFE Investment Counsel now owns 19,951 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 4,303 shares in the last quarter. Ibex Investors LLC acquired a new stake in shares of Energy Recovery during the second quarter valued at about $233,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Energy Recovery by 36.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 27,417 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 7,360 shares in the last quarter. Institutional investors own 33.33% of the company’s stock.

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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