Energy Recovery (ERII) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Energy Recovery (NASDAQ:ERII) from a sell rating to a hold rating in a research note released on Saturday morning.

Other research analysts have also issued reports about the company. Seaport Global Securities lowered Energy Recovery from a buy rating to a neutral rating in a report on Friday, December 7th. Zacks Investment Research lowered Energy Recovery from a buy rating to a hold rating in a report on Wednesday, December 12th. B. Riley reissued a buy rating on shares of Energy Recovery in a report on Friday, December 28th. TheStreet lowered Energy Recovery from a b- rating to a c+ rating in a report on Friday, December 28th. Finally, ValuEngine lowered Energy Recovery from a buy rating to a hold rating in a report on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Energy Recovery currently has a consensus rating of Buy and an average price target of $14.33.

ERII stock opened at $9.10 on Friday. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.11. The company has a market cap of $492.37 million, a P/E ratio of 45.50 and a beta of 4.81. Energy Recovery has a 12-month low of $6.17 and a 12-month high of $10.25.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Thursday, March 7th. The industrial products company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Energy Recovery had a return on equity of 10.25% and a net margin of 36.99%. The firm had revenue of $17.71 million for the quarter, compared to analyst estimates of $15.68 million. Sell-side analysts expect that Energy Recovery will post 0.26 earnings per share for the current year.

In related news, Director Arve Hanstveit sold 139,042 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.50, for a total transaction of $1,181,857.00. Following the completion of the transaction, the director now owns 1,134,842 shares of the company’s stock, valued at $9,646,157. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Emily Smith sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $8.00, for a total value of $80,000.00. Following the transaction, the vice president now directly owns 66,776 shares of the company’s stock, valued at approximately $534,208. The disclosure for this sale can be found here. Company insiders own 23.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ERII. Geode Capital Management LLC boosted its position in shares of Energy Recovery by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 386,026 shares of the industrial products company’s stock valued at $2,597,000 after purchasing an additional 21,560 shares during the period. Legal & General Group Plc boosted its position in shares of Energy Recovery by 44.4% in the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 2,294 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Energy Recovery by 262.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 7,083 shares during the period. Bank of America Corp DE boosted its position in shares of Energy Recovery by 103.0% in the 4th quarter. Bank of America Corp DE now owns 30,488 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 15,472 shares during the period. Finally, Avenir Corp boosted its position in shares of Energy Recovery by 56.1% in the 4th quarter. Avenir Corp now owns 798,095 shares of the industrial products company’s stock valued at $5,371,000 after purchasing an additional 286,899 shares during the period. 35.84% of the stock is owned by institutional investors and hedge funds.

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.

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