Energy Recovery, Inc. (NASDAQ:ERII) has been given an average recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of equities research analysts recently commented on ERII shares. Zacks Investment Research downgraded Energy Recovery from a “buy” rating to a “hold” rating in a report on Friday. JMP Securities set a $15.00 target price on Energy Recovery and gave the stock a “buy” rating in a report on Thursday, October 10th. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Evercore ISI reaffirmed a “buy” rating and set a $18.00 target price on shares of Energy Recovery in a report on Thursday, August 8th. Finally, B. Riley set a $15.00 target price on Energy Recovery and gave the stock a “buy” rating in a report on Monday, July 15th.

A number of large investors have recently made changes to their positions in ERII. River & Mercantile Asset Management LLP acquired a new stake in Energy Recovery in the 2nd quarter valued at about $3,059,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Energy Recovery by 36.7% in the 2nd 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 during the last quarter. Yaupon Capital Management LP purchased a new position in shares of Energy Recovery in the 2nd quarter valued at about $641,000. Cubist Systematic Strategies LLC purchased a new position in shares of Energy Recovery in the 2nd quarter valued at about $147,000. Finally, Morgan Stanley increased its holdings in shares of Energy Recovery by 85.2% in the 2nd quarter. Morgan Stanley now owns 278,187 shares of the industrial products company’s stock valued at $2,899,000 after acquiring an additional 127,992 shares during the last quarter. 33.33% of the stock is owned by institutional investors.

Shares of Energy Recovery stock traded down $0.09 on Friday, reaching $9.69. 98,931 shares of the stock were exchanged, compared to its average volume of 148,614. The company has a quick ratio of 4.76, a current ratio of 5.09 and a debt-to-equity ratio of 0.09. Energy Recovery has a twelve month low of $6.17 and a twelve month high of $12.04. The firm has a market capitalization of $537.55 million, a price-to-earnings ratio of 48.43 and a beta of 4.31. The business has a 50 day moving average price of $9.52 and a two-hundred day moving average price of $9.89.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.07 EPS for the quarter, topping the Zacks’ 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 quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts forecast that Energy Recovery will post 0.12 EPS for the current year.

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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