Seaport Global Securities cut shares of Energy Recovery (NASDAQ:ERII) from a buy rating to a neutral rating in a report published on Friday morning, Marketbeat reports.

Several other research firms also recently weighed in on ERII. Zacks Investment Research downgraded shares of Energy Recovery from a strong-buy rating to a hold rating in a report on Tuesday, September 18th. BidaskClub downgraded shares of Energy Recovery from a sell rating to a strong sell rating in a report on Tuesday, October 9th. Finally, TheStreet raised shares of Energy Recovery from a c rating to a b- rating in a report on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $14.25.

ERII stock traded down $0.22 during trading on Friday, hitting $7.85. The company had a trading volume of 407,402 shares, compared to its average volume of 146,748. The company has a market capitalization of $434.67 million, a P/E ratio of 36.68 and a beta of 5.67. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $11.14. The company has a quick ratio of 3.99, a current ratio of 4.22 and a debt-to-equity ratio of 0.12.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $22.20 million during the quarter, compared to the consensus estimate of $20.63 million. Energy Recovery had a net margin of 48.60% and a return on equity of 12.63%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Equities analysts anticipate that Energy Recovery will post 0.2 EPS for the current year.

In other Energy Recovery news, VP Nocair Bensalah sold 31,404 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $8.77, for a total value of $275,413.08. Following the completion of the sale, the vice president now directly owns 95,000 shares of the company’s stock, valued at approximately $833,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 45,708 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $9.15, for a total transaction of $418,228.20. Following the completion of the sale, the director now directly owns 1,113,945 shares of the company’s stock, valued at $10,192,596.75. The disclosure for this sale can be found here. Insiders sold a total of 155,356 shares of company stock valued at $1,380,624 over the last three months. 23.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Trexquant Investment LP acquired a new stake in Energy Recovery in the 3rd quarter valued at about $115,000. Aristotle Atlantic Partners LLC acquired a new stake in Energy Recovery in the 2nd quarter valued at about $121,000. Aperio Group LLC acquired a new stake in Energy Recovery in the 2nd quarter valued at about $132,000. Alambic Investment Management L.P. acquired a new stake in Energy Recovery in the 3rd quarter valued at about $166,000. Finally, Fox Run Management L.L.C. acquired a new stake in Energy Recovery in the 3rd quarter valued at about $167,000. 33.82% of the stock is owned by institutional investors.

Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

See Also: Cost of Equity

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