Energy Recovery, Inc. (ERII) Reaches New 1-Year Low at $6.37
Energy Recovery, Inc. (NASDAQ:ERII) hit a new 52-week low on Thursday . The stock traded as low as $6.37 and last traded at $6.36, with a volume of 224,976 shares. The stock had previously closed at $6.58.
A number of research firms have commented on ERII. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of Energy Recovery in a report on Wednesday. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.92.
The stock has a market capitalization of $340.21 million, a price-to-earnings ratio of 218.97 and a beta of 5.51. The firm’s 50-day moving average price is $7.72 and its 200 day moving average price is $8.26.
Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $12.20 million during the quarter, compared to analyst estimates of $14.99 million. Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. The company’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, equities analysts forecast that Energy Recovery, Inc. will post $0.73 EPS for the current year.
Large investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its stake in shares of Energy Recovery by 51.5% in the second quarter. Alliancebernstein L.P. now owns 30,300 shares of the industrial products company’s stock worth $251,000 after buying an additional 10,300 shares during the period. Heartland Advisors Inc. bought a new stake in shares of Energy Recovery during the second quarter worth about $2,487,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Energy Recovery during the second quarter worth about $170,000. Virginia Retirement Systems ET AL raised its stake in shares of Energy Recovery by 6.9% in the second quarter. Virginia Retirement Systems ET AL now owns 107,300 shares of the industrial products company’s stock worth $890,000 after buying an additional 6,900 shares during the period. Finally, Marshall Wace North America L.P. raised its stake in shares of Energy Recovery by 41.1% in the second quarter. Marshall Wace North America L.P. now owns 42,784 shares of the industrial products company’s stock worth $342,000 after buying an additional 12,455 shares during the period. 31.86% of the stock is currently owned by institutional investors.
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.
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