Energy Recovery, Inc. (ERII) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts have a broadly cautious view of Energy Recovery: five firms give it an average “Reduce” rating, with two sell ratings and three holds. The average one-year price target is $11.67.
• The company’s latest quarter missed expectations, reporting a loss of $0.10 per share versus the expected $0.06 loss, and revenue of $11.2 million versus forecasts of $16.16 million.
• ERII shares opened at $7.33 and have traded between $6.24 and $16.30 over the past year; B. Riley also cut its price target from $10 to $8.

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) has been assigned an average rating of "Reduce" from the five research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.67.

A number of research firms have commented on ERII. Wall Street Zen downgraded shares of Energy Recovery from a "sell" rating to a "strong sell" rating in a report on Saturday. Zacks Research lowered Energy Recovery from a "hold" rating to a "strong sell" rating in a research note on Wednesday, November 4th. Weiss Ratings lowered shares of Energy Recovery from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, September 16th. Seaport Research Partners cut shares of Energy Recovery from a "buy" rating to a "neutral" rating in a research report on Monday, September 14th. Finally, B. Riley Financial lowered their price objective on Energy Recovery from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $7.33 on Wednesday. The firm has a market capitalization of $372.07 million, a price-to-earnings ratio of 81.44 and a beta of 0.89. The business's 50 day moving average price is $7.00 and its 200-day moving average price is $9.38. Energy Recovery has a 1 year low of $6.24 and a 1 year high of $16.30.

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 analysts' consensus estimates of ($0.06) by ($0.04). The firm had revenue of $11.20 million during the quarter, compared to analysts' expectations of $16.16 million. Energy Recovery had a net margin of 5.15% and a return on equity of 2.82%. On average, sell-side analysts expect that Energy Recovery will post -0.17 earnings per share for the current year.

Institutional Trading of Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in Energy Recovery during the second quarter worth about $33,000. Versant Capital Management Inc boosted its position in shares of Energy Recovery by 737.6% during the 3rd quarter. Versant Capital Management Inc now owns 5,252 shares of the industrial products company's stock worth $35,000 after purchasing an additional 4,625 shares during the period. Group One Trading LLC purchased a new position in shares of Energy Recovery during the 1st quarter worth approximately $41,000. Parallel Advisors LLC increased its holdings in Energy Recovery by 3,652.7% in 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 last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Energy Recovery in the 3rd quarter valued at approximately $49,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

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