BidaskClub cut shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a sell rating in a research note released on Wednesday, BidAskClub reports.

A number of other analysts have also commented on ERII. B. Riley set a $15.00 price target on shares of Energy Recovery and gave the company a buy rating in a research note on Monday, July 15th. ValuEngine lowered shares of Energy Recovery from a strong-buy rating to a buy rating in a research note on Thursday, August 1st. TheStreet raised shares of Energy Recovery from a c+ rating to a b rating in a report on Friday, May 3rd. Evercore ISI reaffirmed a buy rating and set a $18.00 price objective on shares of Energy Recovery in a report on Thursday, August 8th. Finally, Zacks Investment Research downgraded shares of Energy Recovery from a buy rating to a hold rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $14.25.

Shares of ERII stock opened at $8.82 on Wednesday. The firm has a market capitalization of $486.99 million, a PE ratio of 44.10 and a beta of 4.32. The firm has a fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $9.55. The company has a current ratio of 5.09, a quick ratio of 4.76 and a debt-to-equity ratio of 0.09. Energy Recovery has a 12 month low of $6.17 and a 12 month high of $12.04.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $22.80 million during the quarter, compared to analyst estimates of $20.53 million. Energy Recovery had a net margin of 20.21% and a return on equity of 10.89%. Energy Recovery’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities analysts predict that Energy Recovery will post 0.13 earnings per share for the current fiscal year.

In other Energy Recovery news, Director Hans Peter Michelet sold 10,000 shares of Energy Recovery stock in a transaction on Monday, June 10th. The shares were sold at an average price of $10.06, for a total transaction of $100,600.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rodney Clemente sold 36,946 shares of Energy Recovery stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.92, for a total transaction of $440,396.32. Following the transaction, the vice president now directly owns 81,299 shares in the company, valued at $969,084.08. The disclosure for this sale can be found here. Insiders have sold a total of 180,747 shares of company stock worth $1,919,829 over the last ninety days. Insiders own 23.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc increased its stake in shares of Energy Recovery by 44.4% in the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 2,294 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Energy Recovery by 53,485.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,502 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 7,488 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Energy Recovery by 262.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 7,083 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Energy Recovery in the 2nd quarter valued at $131,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Energy Recovery in the 2nd quarter valued at $147,000. 32.32% of the stock is currently owned by hedge funds and other institutional investors.

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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