Energy Recovery (NASDAQ:ERII) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other analysts have also commented on ERII. B. Riley restated a “buy” rating and issued a $20.00 price target (up from $16.00) on shares of Energy Recovery in a report on Wednesday, November 1st. FBR & Co restated a “buy” rating on shares of Energy Recovery in a report on Wednesday, October 11th. ValuEngine upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Capital One Financial assumed coverage on Energy Recovery in a report on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price target on the stock. Finally, JMP Securities assumed coverage on Energy Recovery in a report on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.00.

Energy Recovery (NASDAQ:ERII) opened at $9.29 on Tuesday. The firm has a market capitalization of $543.99, a PE ratio of 145.00, a price-to-earnings-growth ratio of 2.05 and a beta of 5.73. Energy Recovery has a twelve month low of $6.13 and a twelve month high of $12.08.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The firm had revenue of $15.08 million during the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share. equities analysts expect that Energy Recovery will post 0.33 EPS for the current fiscal year.

In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of Energy Recovery stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the sale, the vice president now owns 32,398 shares of the company’s stock, valued at $356,378. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 23.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC acquired a new stake in shares of Energy Recovery in the second quarter valued at about $117,000. Perigon Wealth Management LLC increased its position in shares of 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 during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Energy Recovery in the third quarter valued at about $130,000. Boothbay Fund Management LLC acquired a new stake in shares of Energy Recovery in the third quarter valued at about $131,000. Finally, PEAK6 Investments L.P. acquired a new stake in shares of Energy Recovery in the third quarter valued at about $150,000. 33.58% of the stock is currently owned by institutional investors and hedge funds.

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About Energy Recovery

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.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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