TheStreet cut shares of Energy Recovery (NASDAQ:ERII) from a b- rating to a c rating in a report published on Tuesday morning.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Energy Recovery from a sell rating to a hold rating in a research report on Friday, April 20th. BidaskClub lowered shares of Energy Recovery from a hold rating to a sell rating in a research note on Friday, May 4th. B. Riley set a $20.00 price objective on shares of Energy Recovery and gave the stock a buy rating in a research note on Wednesday, May 16th. Finally, ValuEngine upgraded shares of Energy Recovery from a hold rating to a buy rating in a research note on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $15.00.
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Shares of Energy Recovery opened at $8.31 on Tuesday, Marketbeat reports. The company has a current ratio of 4.61, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01. Energy Recovery has a one year low of $6.13 and a one year high of $11.30. The stock has a market cap of $446.75 million, a PE ratio of 118.71 and a beta of 5.33.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Thursday, May 3rd. The industrial products company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Energy Recovery had a net margin of 22.35% and a return on equity of 6.13%. The business had revenue of $13.80 million for the quarter, compared to analysts’ expectations of $16.08 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. analysts anticipate that Energy Recovery will post 0.15 EPS for the current year.
Energy Recovery announced that its board has authorized a stock repurchase program on Thursday, March 8th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $8.57, for a total transaction of $428,500.00. Following the sale, the director now owns 1,095,800 shares in the company, valued at $9,391,006. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nokomis Capital L.L.C. raised its stake in Energy Recovery by 33.2% during the first quarter. Nokomis Capital L.L.C. now owns 2,437,326 shares of the industrial products company’s stock worth $20,035,000 after acquiring an additional 607,745 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in Energy Recovery by 37.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 291,900 shares of the industrial products company’s stock worth $2,400,000 after acquiring an additional 80,100 shares during the period. SCP Investment LP raised its stake in Energy Recovery by 316.7% during the first quarter. SCP Investment LP now owns 200,000 shares of the industrial products company’s stock worth $1,644,000 after acquiring an additional 152,000 shares during the period. Avenir Corp increased its stake in shares of Energy Recovery by 8.9% in the first quarter. Avenir Corp now owns 311,050 shares of the industrial products company’s stock valued at $2,557,000 after purchasing an additional 25,500 shares during the period. Finally, Heartland Advisors Inc. increased its stake in shares of Energy Recovery by 17.6% in the first quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the industrial products company’s stock valued at $8,220,000 after purchasing an additional 150,000 shares during the period. Hedge funds and other institutional investors own 38.59% 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.