Energy Recovery (NASDAQ:ERII) Downgraded by ValuEngine to Buy

Energy Recovery (NASDAQ:ERII) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

Several other analysts also recently weighed in on the company. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. TheStreet upgraded Energy Recovery from a “c+” rating to a “b” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Friday, June 7th. Finally, B. Riley set a $15.00 price objective on Energy Recovery and gave the company a “buy” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $13.00.

NASDAQ:ERII traded down $0.08 during mid-day trading on Thursday, reaching $10.90. The stock had a trading volume of 242,146 shares, compared to its average volume of 202,594. The company has a 50 day moving average price of $10.65. The company has a market capitalization of $605.82 million, a PE ratio of 54.50 and a beta of 4.33. Energy Recovery has a one year low of $6.17 and a one year high of $12.04. The company has a quick ratio of 4.55, a current ratio of 4.85 and a debt-to-equity ratio of 0.10.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Energy Recovery had a return on equity of 11.72% and a net margin of 39.35%. The company had revenue of $19.80 million during the quarter, compared to the consensus estimate of $15.98 million. During the same quarter in the previous year, the company posted ($0.01) EPS. Energy Recovery’s quarterly revenue was up 43.5% compared to the same quarter last year. Equities research analysts anticipate that Energy Recovery will post 0.23 earnings per share for the current year.

In related news, VP Emily Smith sold 7,868 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $10.90, for a total transaction of $85,761.20. Following the completion of the transaction, the vice president now owns 48,773 shares in the company, valued at $531,625.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hans Peter Michelet sold 99,014 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $10.73, for a total value of $1,062,420.22. Following the transaction, the director now owns 18,365 shares of the company’s stock, valued at approximately $197,056.45. The disclosure for this sale can be found here. Insiders sold 338,963 shares of company stock valued at $3,632,801 in the last quarter. Corporate insiders own 23.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. ETF Managers Group LLC raised its holdings in shares of Energy Recovery by 9.8% during the first quarter. ETF Managers Group LLC now owns 17,413 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 1,548 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Energy Recovery by 44.4% during the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 2,294 shares in the last quarter. Northern Trust Corp grew its stake in Energy Recovery by 0.7% in the fourth quarter. Northern Trust Corp now owns 456,306 shares of the industrial products company’s stock worth $3,070,000 after purchasing an additional 3,041 shares during the period. SFE Investment Counsel grew its stake in Energy Recovery by 27.5% in the second 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 period. Finally, Cadence Capital Management LLC grew its stake in Energy Recovery by 1.8% in the first quarter. Cadence Capital Management LLC now owns 369,126 shares of the industrial products company’s stock worth $3,222,000 after purchasing an additional 6,548 shares during the period. Institutional investors own 31.97% of the company’s stock.

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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