Recent Investment Analysts’ Ratings Changes for Energy Recovery (ERII)

A number of firms have modified their ratings and price targets on shares of Energy Recovery (NASDAQ: ERII) recently:

  • 10/18/2019 – Energy Recovery was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Based in San Leandro, California, ENERGY RECOVERY, INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery, Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology, specifically the ERI PX Pressure Exchanger, that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination, and are helping to make desalination affordable worldwide. “
  • 10/17/2019 – Energy Recovery was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $11.00 price target on the stock. According to Zacks, “Based in San Leandro, California, ENERGY RECOVERY, INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery, Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology, specifically the ERI PX Pressure Exchanger, that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination, and are helping to make desalination affordable worldwide. “
  • 10/10/2019 – Energy Recovery was given a new $15.00 price target on by analysts at JMP Securities. They now have a “buy” rating on the stock.
  • 10/2/2019 – Energy Recovery was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/6/2019 – Energy Recovery was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/30/2019 – Energy Recovery was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of NASDAQ ERII traded down $0.14 during trading on Tuesday, hitting $9.72. The company had a trading volume of 688 shares, compared to its average volume of 143,059. The stock has a fifty day simple moving average of $9.53 and a two-hundred day simple moving average of $9.90. Energy Recovery, Inc. 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 $542.00 million, a price-to-earnings ratio of 48.60 and a beta of 4.31. The company has a quick ratio of 4.76, a current ratio of 5.09 and a debt-to-equity ratio of 0.09.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Thursday, August 1st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. Energy Recovery had a net margin of 20.21% and a return on equity of 10.89%. The business had revenue of $22.80 million for the quarter, compared to analyst estimates of $20.53 million. During the same quarter last year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Energy Recovery, Inc. will post 0.12 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Trigran Investments Inc. boosted its position in Energy Recovery by 1.2% during the second quarter. Trigran Investments Inc. now owns 3,149,018 shares of the industrial products company’s stock worth $32,813,000 after acquiring an additional 36,715 shares during the last quarter. BlackRock Inc. raised its stake in Energy Recovery by 4.5% during the second quarter. BlackRock Inc. now owns 2,518,679 shares of the industrial products company’s stock worth $26,245,000 after purchasing an additional 107,783 shares during the period. First Trust Advisors LP raised its stake in Energy Recovery by 5.1% during the second quarter. First Trust Advisors LP now owns 560,631 shares of the industrial products company’s stock worth $5,842,000 after purchasing an additional 27,162 shares during the period. Bank of New York Mellon Corp raised its stake in Energy Recovery by 104.9% during the second quarter. Bank of New York Mellon Corp now owns 482,965 shares of the industrial products company’s stock worth $5,033,000 after purchasing an additional 247,287 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Energy Recovery by 0.5% in the 2nd quarter. Northern Trust Corp now owns 454,372 shares of the industrial products company’s stock valued at $4,735,000 after acquiring an additional 2,157 shares during the period. Hedge funds and other institutional investors own 33.32% of the company’s stock.

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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