BidaskClub cut shares of Energy Recovery, Inc. (NASDAQ:ERII) from a hold rating to a sell rating in a report issued on Thursday.

Separately, Zacks Investment Research lowered Energy Recovery from a buy rating to a hold rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $17.42.

Energy Recovery (NASDAQ ERII) traded down 1.68% during midday trading on Thursday, hitting $7.60. 248,211 shares of the stock were exchanged. Energy Recovery has a 1-year low of $7.11 and a 1-year high of $16.67. The company has a market capitalization of $410.29 million, a P/E ratio of 161.70 and a beta of 5.54. The company’s 50 day moving average is $7.93 and its 200 day moving average is $8.45.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Energy Recovery had a net margin of 4.94% and a return on equity of 4.10%. The company had revenue of $12.26 million for the quarter, compared to the consensus estimate of $15.15 million. Analysts predict that Energy Recovery will post $0.68 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC raised its position in shares of Energy Recovery by 1.5% in the first quarter. Chicago Equity Partners LLC now owns 60,755 shares of the industrial products company’s stock valued at $505,000 after buying an additional 910 shares during the last quarter. American International Group Inc. raised its position in shares of Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,399 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Energy Recovery by 729.0% in the second quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock valued at $400,000 after buying an additional 2,916 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Energy Recovery by 19.8% in the first quarter. Alliancebernstein L.P. now owns 20,000 shares of the industrial products company’s stock valued at $166,000 after buying an additional 3,300 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Energy Recovery by 22.0% in the first quarter. OppenheimerFunds Inc. now owns 33,183 shares of the industrial products company’s stock valued at $276,000 after buying an additional 5,979 shares during the last quarter. 31.83% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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