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

Energy Recovery (NASDAQ:ERII) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks reports.

ERII has been the subject of several other research reports. Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Seaport Research Partners lowered Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Monday, September 14th. Finally, B. Riley Financial dropped their price target on Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Energy Recovery currently has a consensus rating of “Reduce” and an average price target of $11.67.

Energy Recovery Stock Performance

Shares of ERII stock opened at $6.71 on Wednesday. The stock has a market capitalization of $345.83 million, a price-to-earnings ratio of 74.56 and a beta of 0.89. Energy Recovery has a one year low of $6.24 and a one year high of $16.30. The company’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $9.49.

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 the consensus estimate of ($0.06) by ($0.04). Energy Recovery had a net margin of 5.15% and a return on equity of 2.74%. The firm had revenue of $11.20 million during the quarter, compared to the consensus estimate of $16.16 million. As a group, research analysts forecast that Energy Recovery will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Energy Recovery

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Energy Recovery during the 2nd quarter worth approximately $57,225,000. Amundi lifted its holdings in shares of Energy Recovery by 31.2% in the 1st quarter. Amundi now owns 3,740,309 shares of the industrial products company’s stock worth $37,648,000 after purchasing an additional 888,618 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Energy Recovery in the 2nd quarter worth approximately $18,579,000. Kopion Asset Management LLC boosted its position in Energy Recovery by 59.2% during the 3rd quarter. Kopion Asset Management LLC now owns 1,018,133 shares of the industrial products company’s stock valued at $6,791,000 after purchasing an additional 378,588 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Energy Recovery by 47.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 514,102 shares of the industrial products company’s stock valued at $5,177,000 after purchasing an additional 165,915 shares during the period. 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.