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.

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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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