Energy Recovery (NASDAQ:ERII) Stock Gets Downgrade from Zacks Research

Energy Recovery (NASDAQ:ERII) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday, Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. B. Riley Financial decreased their price objective on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Finally, Seaport Research Partners cut shares of Energy Recovery from a “buy” rating to a “neutral” rating in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Energy Recovery currently has a consensus rating of “Reduce” and an average target price of $11.67.

Energy Recovery Stock Performance

NASDAQ:ERII opened at $6.71 on Wednesday. Energy Recovery has a fifty-two week low of $6.24 and a fifty-two week high of $16.30. The firm has a market cap of $345.83 million, a PE ratio of 79.67 and a beta of 0.89. The business has a 50 day moving average price of $7.03 and a 200-day moving average price of $9.49.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, November 4th. The industrial products company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Energy Recovery had a return on equity of 2.74% and a net margin of 5.15%. The firm had revenue of $11.20 million during the quarter, compared to analysts’ expectations of $16.16 million. Research analysts predict that Energy Recovery will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in Energy Recovery in the second quarter worth $33,000. Group One Trading LLC bought a new stake in Energy Recovery in the first quarter valued at $41,000. Versant Capital Management Inc boosted its holdings in Energy Recovery by 737.6% in the third quarter. Versant Capital Management Inc now owns 5,252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 4,625 shares in the last quarter. Parallel Advisors LLC increased its position in Energy Recovery by 3,652.7% during the 3rd quarter. Parallel Advisors LLC now owns 6,267 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 6,100 shares during the period. Finally, S&CO Inc. increased its position in Energy Recovery by 8.3% during the 1st quarter. S&CO Inc. now owns 13,000 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc develops and manufactures energy-efficiency technologies for industrial fluid-flow applications. The company is best known for its pressure exchanger systems, which capture hydraulic energy from high-pressure fluid streams and transfer it to lower-pressure incoming fluids. This process can reduce energy consumption and operating costs in demanding industrial environments.

Energy Recovery’s products are used extensively in seawater and brackish-water reverse-osmosis desalination, where its PX Pressure Exchanger technology helps recover energy from the high-pressure reject stream.