BidaskClub lowered shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Evercore ISI reiterated a buy rating and set a $18.00 price target on shares of Energy Recovery in a research note on Thursday, August 8th. ValuEngine upgraded Energy Recovery from a hold rating to a buy rating in a research note on Monday, November 4th. Raymond James assumed coverage on Energy Recovery in a research note on Wednesday, October 23rd. They set an outperform rating and a $12.00 price target for the company. JMP Securities set a $15.00 price target on Energy Recovery and gave the stock a buy rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research upgraded Energy Recovery from a hold rating to a buy rating and set a $11.00 price target for the company in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $14.20.

Shares of Energy Recovery stock traded down $0.03 on Wednesday, reaching $8.77. 206,600 shares of the company were exchanged, compared to its average volume of 275,301. The stock has a fifty day moving average price of $9.39 and a 200-day moving average price of $9.91. The company has a current ratio of 4.32, a quick ratio of 4.01 and a debt-to-equity ratio of 0.09. Energy Recovery has a fifty-two week low of $6.17 and a fifty-two week high of $12.04. The firm has a market capitalization of $485.02 million, a price-to-earnings ratio of 43.85 and a beta of 4.25.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Thursday, October 31st. The industrial products company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Energy Recovery had a return on equity of 9.95% and a net margin of 18.65%. The firm had revenue of $24.90 million for the quarter, compared to the consensus estimate of $22.01 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts anticipate that Energy Recovery will post 0.17 earnings per share for the current fiscal year.

In other news, Director Arve Hanstveit sold 13,605 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $9.22, for a total transaction of $125,438.10. Following the completion of the sale, the director now owns 1,109,405 shares in the company, valued at approximately $10,228,714.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 14,294 shares of company stock valued at $131,947. 23.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in shares of Energy Recovery during the 2nd quarter worth about $131,000. Cubist Systematic Strategies LLC acquired a new position in shares of Energy Recovery during the 2nd quarter worth about $147,000. SFE Investment Counsel lifted its position in shares of Energy Recovery by 27.5% during the 2nd quarter. SFE Investment Counsel now owns 19,951 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 4,303 shares during the last quarter. Ibex Investors LLC acquired a new position in shares of Energy Recovery during the 2nd quarter worth about $233,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Energy Recovery by 36.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 27,417 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 7,360 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

About Energy Recovery

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. 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 small- to medium-sized desalination plants.

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Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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