Energy Recovery (NASDAQ:ERII) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
Other research analysts also recently issued reports about the stock. B. Riley reissued a “buy” rating and set a $20.00 price target (up from $16.00) on shares of Energy Recovery in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, January 3rd. Seaport Global Securities initiated coverage on shares of Energy Recovery in a report on Tuesday, October 17th. They issued a “buy” rating and a $17.00 target price on the stock. FBR & Co restated a “buy” rating on shares of Energy Recovery in a report on Wednesday, October 11th. Finally, Jefferies Group restated a “buy” rating and issued a $14.00 target price on shares of Energy Recovery in a report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Energy Recovery has an average rating of “Buy” and a consensus price target of $15.63.
Energy Recovery (NASDAQ ERII) opened at $8.81 on Friday. The company has a market cap of $479.24, a P/E ratio of 146.83 and a beta of 5.73. Energy Recovery has a one year low of $6.13 and a one year high of $11.30.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.31). The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. analysts anticipate that Energy Recovery will post 0.05 EPS for the current fiscal year.
In other news, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $8.91, for a total value of $445,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the completion of the transaction, the vice president now owns 32,398 shares in the company, valued at approximately $356,378. The disclosure for this sale can be found here. Insiders sold 59,117 shares of company stock worth $545,787 in the last 90 days. Company insiders own 23.60% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC bought a new position in shares of Energy Recovery in the second quarter worth approximately $117,000. Perigon Wealth Management LLC boosted its holdings in Energy Recovery by 149.7% in the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 9,099 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Energy Recovery in the third quarter valued at $130,000. Boothbay Fund Management LLC bought a new stake in Energy Recovery in the third quarter valued at $131,000. Finally, PEAK6 Investments L.P. bought a new stake in Energy Recovery in the third quarter valued at $150,000. Hedge funds and other institutional investors own 33.58% of the company’s stock.
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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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