Energy Recovery (ERII) Lowered to “Sell” at BidaskClub

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

Other equities analysts have also recently issued research reports about the company. B. Riley set a $20.00 price target on Energy Recovery and gave the stock a buy rating in a report on Monday, August 6th. ValuEngine upgraded Energy Recovery from a hold rating to a buy rating in a report on Tuesday, May 8th. TheStreet cut Energy Recovery from a b- rating to a c rating in a report on Tuesday, May 29th. Zacks Investment Research upgraded Energy Recovery from a sell rating to a hold rating in a report on Thursday, May 3rd. Finally, JMP Securities decreased their price target on Energy Recovery from $15.00 to $13.00 and set a market outperform rating for the company in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $15.14.

NASDAQ ERII opened at $9.10 on Friday. The company has a market capitalization of $518.12 million, a price-to-earnings ratio of 130.00 and a beta of 5.40. Energy Recovery has a fifty-two week low of $6.13 and a fifty-two week high of $11.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.51 and a quick ratio of 4.26.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06. The firm had revenue of $20.80 million during the quarter, compared to analysts’ expectations of $16.39 million. Energy Recovery had a return on equity of 10.72% and a net margin of 46.91%. Energy Recovery’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. sell-side analysts forecast that Energy Recovery will post 0.23 earnings per share for the current fiscal year.

In other news, Director Hans Peter Michelet sold 101,990 shares of the stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $8.12, for a total transaction of $828,158.80. Following the completion of the transaction, the director now directly owns 36,152 shares in the company, valued at approximately $293,554.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ERII. Nokomis Capital L.L.C. boosted its stake in shares of Energy Recovery by 33.2% during the 1st quarter. Nokomis Capital L.L.C. now owns 2,437,326 shares of the industrial products company’s stock valued at $20,035,000 after buying an additional 607,745 shares during the last quarter. Trigran Investments Inc. purchased a new position in shares of Energy Recovery during the 2nd quarter valued at approximately $2,292,000. BlackRock Inc. boosted its stake in shares of Energy Recovery by 11.9% during the 2nd quarter. BlackRock Inc. now owns 2,458,180 shares of the industrial products company’s stock valued at $19,861,000 after buying an additional 261,516 shares during the last quarter. SCP Investment LP boosted its stake in shares of Energy Recovery by 316.7% during the 1st quarter. SCP Investment LP now owns 200,000 shares of the industrial products company’s stock valued at $1,644,000 after buying an additional 152,000 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its stake in shares of Energy Recovery by 17.6% during the 1st quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the industrial products company’s stock valued at $8,220,000 after buying an additional 150,000 shares during the last quarter. Institutional investors own 38.30% of the company’s stock.

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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