BidaskClub Upgrades Energy Recovery (NASDAQ:ERII) to Buy

Energy Recovery (NASDAQ:ERII) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, BidAskClub reports.

ERII has been the topic of a number of other reports. JMP Securities set a $15.00 price objective on Energy Recovery and gave the company a “buy” rating in a research report on Thursday, October 10th. Raymond James initiated coverage on Energy Recovery in a research report on Wednesday. They set an “outperform” rating and a $12.00 price objective on the stock. B. Riley set a $15.00 price objective on Energy Recovery and gave the company a “buy” rating in a research report on Monday, July 15th. ValuEngine downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI restated a “buy” rating and set a $18.00 price objective on shares of Energy Recovery in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $14.20.

ERII stock traded down $0.37 during midday trading on Thursday, reaching $9.54. 6,716 shares of the company traded hands, compared to its average volume of 140,108. Energy Recovery has a 52-week low of $6.17 and a 52-week high of $12.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.76 and a current ratio of 5.09. The business has a 50 day moving average of $9.54 and a 200-day moving average of $9.91. The firm has a market capitalization of $544.15 million, a price-to-earnings ratio of 47.82 and a beta of 4.31.

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

Several hedge funds and other institutional investors have recently modified their holdings of ERII. River & Mercantile Asset Management LLP purchased a new stake in shares of Energy Recovery in the second quarter worth approximately $3,059,000. KBC Group NV raised its holdings in shares of Energy Recovery by 508.9% in the second quarter. KBC Group NV now owns 313,451 shares of the industrial products company’s stock worth $3,266,000 after buying an additional 261,971 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Energy Recovery by 104.9% in 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 buying an additional 247,287 shares during the period. Morgan Stanley raised its holdings in shares of Energy Recovery by 85.2% in the second quarter. Morgan Stanley now owns 278,187 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 127,992 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Energy Recovery by 4.5% in the second quarter. BlackRock Inc. now owns 2,518,679 shares of the industrial products company’s stock worth $26,245,000 after buying an additional 107,783 shares during the period. Hedge funds and other institutional investors own 33.32% 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. 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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Analyst Recommendations for Energy Recovery (NASDAQ:ERII)

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