Energy Recovery (NASDAQ:ERII) Downgraded by Wall Street Zen to "Strong Sell"

Key Points

• Wall Street Zen downgraded Energy Recovery to “Strong Sell” from “Sell”; Zacks Research also assigned a “Strong Sell” rating. MarketBeat’s consensus rating is “Reduce,” with a $11.67 average price target.
• The company reported quarterly EPS of -$0.10, missing the -$0.06 consensus, while revenue of $11.2 million fell short of the $16.16 million estimate.
• ERII shares opened at $7.15, near their 52-week low of $6.24 and well below their 52-week high of $16.30.

Energy Recovery (NASDAQ:ERII - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Energy Recovery from a "hold" rating to a "strong sell" rating in a report on Wednesday. Seaport Research Partners lowered Energy Recovery from a "buy" rating to a "neutral" rating in a research note on Monday, September 14th. Weiss Ratings cut Energy Recovery from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, September 16th. Finally, B. Riley Financial cut their price target on shares of Energy Recovery from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Energy Recovery currently has a consensus rating of "Reduce" and a consensus price target of $11.67.

Energy Recovery Stock Performance

ERII opened at $7.15 on Friday. Energy Recovery has a 52 week low of $6.24 and a 52 week high of $16.30. The company has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $9.45. The firm has a market capitalization of $368.51 million, a PE ratio of 79.44 and a beta of 0.89.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. The company had revenue of $11.20 million for the quarter, compared to analyst estimates of $16.16 million. Equities analysts forecast that Energy Recovery will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. S&CO Inc. increased its stake in shares of Energy Recovery by 8.3% in the 1st quarter. S&CO Inc. now owns 13,000 shares of the industrial products company's stock worth $130,000 after purchasing an additional 1,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Energy Recovery by 2.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 169,005 shares of the industrial products company's stock worth $1,524,000 after acquiring an additional 3,297 shares during the period. Quantbot Technologies LP acquired a new stake in Energy Recovery during the 2nd quarter worth approximately $33,000. D.A. Davidson & CO. raised its position in shares of Energy Recovery by 19.8% during the 3rd quarter. D.A. Davidson & CO. now owns 22,083 shares of the industrial products company's stock valued at $147,000 after acquiring an additional 3,648 shares in the last quarter. Finally, Group One Trading LLC bought a new position in shares of Energy Recovery in the first quarter valued at $41,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

About Energy Recovery

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.

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