Energy Recovery (ERII) Upgraded by BidaskClub to “Hold”

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

Other research analysts also recently issued reports about the company. B. Riley reissued a buy rating on shares of Energy Recovery in a research note on Friday, December 28th. JMP Securities reaffirmed a buy rating and issued a $13.00 target price on shares of Energy Recovery in a report on Monday, March 11th. ValuEngine raised Energy Recovery from a hold rating to a buy rating in a report on Saturday, February 2nd. TheStreet lowered Energy Recovery from a b- rating to a c+ rating in a report on Friday, December 28th. Finally, Zacks Investment Research lowered Energy Recovery from a buy rating to a hold rating in a report on Wednesday, December 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Energy Recovery currently has a consensus rating of Buy and a consensus price target of $14.33.

Shares of ERII stock opened at $9.10 on Friday. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.11. Energy Recovery has a twelve month low of $6.17 and a twelve month high of $10.25. The company has a market capitalization of $492.37 million, a P/E ratio of 45.50 and a beta of 4.81.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Thursday, March 7th. The industrial products company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Energy Recovery had a return on equity of 10.25% and a net margin of 36.99%. The business had revenue of $17.71 million for the quarter, compared to the consensus estimate of $15.68 million. On average, research analysts forecast that Energy Recovery will post 0.26 EPS for the current year.

In other news, VP Emily Smith sold 10,000 shares of Energy Recovery stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the sale, the vice president now owns 66,776 shares of the company’s stock, valued at approximately $534,208. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 139,042 shares of Energy Recovery stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $8.50, for a total value of $1,181,857.00. Following the sale, the director now directly owns 1,134,842 shares in the company, valued at approximately $9,646,157. The disclosure for this sale can be found here. Company insiders own 23.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. ETF Managers Group LLC grew its holdings in shares of Energy Recovery by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2,163 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Energy Recovery by 44.4% during the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 2,294 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Energy Recovery by 0.7% during the 4th quarter. Northern Trust Corp now owns 456,306 shares of the industrial products company’s stock worth $3,070,000 after purchasing an additional 3,041 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of Energy Recovery by 39.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 25,079 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 7,083 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Energy Recovery by 262.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 7,083 shares in the last quarter. 35.84% of the stock is currently owned by institutional investors.

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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