Energy Recovery, Inc. (ERII) – What Are Brokerages Thinking About This Stock?

Energy Recovery, Inc. (NASDAQ:ERII) has been assigned an average rating of “Reduce” from the five research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.67.

A number of research firms have commented on ERII. Wall Street Zen downgraded shares of Energy Recovery from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Research lowered Energy Recovery from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 4th. Weiss Ratings lowered shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 16th. Seaport Research Partners cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Monday, September 14th. Finally, B. Riley Financial lowered their price objective on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $7.33 on Wednesday. The firm has a market capitalization of $372.07 million, a price-to-earnings ratio of 81.44 and a beta of 0.89. The business’s 50 day moving average price is $7.00 and its 200-day moving average price is $9.38. Energy Recovery has a 1 year low of $6.24 and a 1 year high of $16.30.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The firm had revenue of $11.20 million during the quarter, compared to analysts’ expectations of $16.16 million. Energy Recovery had a net margin of 5.15% and a return on equity of 2.82%. On average, sell-side analysts expect that Energy Recovery will post -0.17 earnings per share for the current year.

Institutional Trading of Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in Energy Recovery during the second quarter worth about $33,000. Versant Capital Management Inc boosted its position in shares of Energy Recovery by 737.6% during the 3rd quarter. Versant Capital Management Inc now owns 5,252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 4,625 shares during the period. Group One Trading LLC purchased a new position in shares of Energy Recovery during the 1st quarter worth approximately $41,000. Parallel Advisors LLC increased its holdings in Energy Recovery by 3,652.7% in the 3rd quarter. Parallel Advisors LLC now owns 6,267 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Energy Recovery in the 3rd quarter valued at approximately $49,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.