Energy Recovery (NASDAQ:ERII) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks reports.

A number of other analysts also recently weighed in on ERII. B. Riley Financial reduced their target price on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Seaport Research Partners downgraded shares of Energy Recovery from a “buy” rating to a “neutral” rating in a report on Monday, September 14th. 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 equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $11.67.

Energy Recovery Trading Up 6.6%

Shares of ERII stock traded up $0.44 on Wednesday, reaching $7.15. The company’s stock had a trading volume of 1,255,291 shares, compared to its average volume of 806,485. The stock’s fifty day simple moving average is $7.02 and its 200-day simple moving average is $9.45. Energy Recovery has a 1 year low of $6.24 and a 1 year high of $16.30. The company has a market capitalization of $368.51 million, a price-to-earnings ratio of 79.44 and a beta of 0.89.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results 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). The business had revenue of $11.20 million during the quarter, compared to the consensus estimate of $16.16 million. Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%. Equities research analysts forecast that Energy Recovery will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Energy Recovery

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Energy Recovery in the second quarter worth $57,225,000. Amundi boosted its stake in shares of Energy Recovery by 7.0% during the second quarter. Amundi now owns 4,003,535 shares of the industrial products company’s stock valued at $36,094,000 after purchasing an additional 263,226 shares during the period. Legal & General Group Plc purchased a new stake in shares of Energy Recovery during the second quarter valued at $18,579,000. Kopion Asset Management LLC grew its holdings in shares of Energy Recovery by 59.2% in the third quarter. Kopion Asset Management LLC now owns 1,018,133 shares of the industrial products company’s stock worth $6,791,000 after purchasing an additional 378,588 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Energy Recovery by 47.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock worth $5,177,000 after purchasing an additional 165,915 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.