Energy Recovery (NASDAQ:ERII) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen cut shares of Energy Recovery (NASDAQ:ERII) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also issued reports on ERII. Seaport Research Partners lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Monday, September 14th. Zacks Research downgraded Energy Recovery from a “hold” rating to a “strong sell” rating in a report on Wednesday. B. Riley Financial decreased their price target on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $11.67.

Energy Recovery Stock Performance

Energy Recovery stock opened at $7.15 on Friday. The firm has a market cap of $368.51 million, a price-to-earnings ratio of 79.44 and a beta of 0.89. Energy Recovery has a 52-week low of $6.24 and a 52-week high of $16.30. The firm has a 50 day moving average price of $7.02 and a two-hundred day moving average price of $9.45.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, November 4th. The industrial products company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Energy Recovery had a return on equity of 2.82% and a net margin of 5.15%. The firm had revenue of $11.20 million for the quarter, compared to analyst estimates of $16.16 million. As a group, equities research analysts predict that Energy Recovery will post -0.17 EPS for the current fiscal year.

Institutional Trading of Energy Recovery

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Energy Recovery by 15.1% in the third quarter. Russell Investments Group Ltd. now owns 89,811 shares of the industrial products company’s stock worth $599,000 after acquiring an additional 11,808 shares in the last quarter. Ethic Inc. increased its holdings in shares of Energy Recovery by 84.1% during the third quarter. Ethic Inc. now owns 25,872 shares of the industrial products company’s stock valued at $173,000 after acquiring an additional 11,815 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Energy Recovery by 3,652.7% during the third quarter. Parallel Advisors LLC now owns 6,267 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 6,100 shares in the last quarter. Inscription Capital LLC bought a new stake in shares of Energy Recovery during the third quarter valued at approximately $100,000. Finally, D.A. Davidson & CO. increased its holdings in shares of Energy Recovery by 19.8% during the third quarter. D.A. Davidson & CO. now owns 22,083 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 3,648 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Company Profile

Energy Recovery, Inc develops and manufactures energy-efficiency technologies for industrial fluid-flow applications. The company is best known for its pressure exchanger systems, which capture hydraulic energy from high-pressure fluid streams and transfer it to lower-pressure incoming fluids. This process can reduce energy consumption and operating costs in demanding industrial environments.

Energy Recovery’s products are used extensively in seawater and brackish-water reverse-osmosis desalination, where its PX Pressure Exchanger technology helps recover energy from the high-pressure reject stream.