BidaskClub Upgrades Energy Recovery (NASDAQ:ERII) to “Sell”

BidaskClub upgraded shares of Energy Recovery (NASDAQ:ERII) from a strong sell rating to a sell rating in a report published on Monday, February 4th.

A number of other equities analysts have also weighed in on the stock. B. Riley reiterated a buy rating on shares of Energy Recovery in a research report on Friday, December 28th. Zacks Investment Research upgraded shares of Energy Recovery from a hold rating to a buy rating and set a $9.50 price target for the company in a research report on Tuesday, October 9th. ValuEngine upgraded shares of Energy Recovery from a hold rating to a buy rating in a research report on Saturday, February 2nd. Seaport Global Securities lowered shares of Energy Recovery from a buy rating to a neutral rating in a research report on Friday, December 7th. Finally, TheStreet lowered shares of Energy Recovery from a b- rating to a c+ rating in a research report on Friday, December 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $14.33.

Shares of ERII traded up $0.12 during mid-day trading on Monday, reaching $8.14. The stock had a trading volume of 76,959 shares, compared to its average volume of 150,082. The firm has a market cap of $440.59 million, a P/E ratio of 116.29 and a beta of 4.74. Energy Recovery has a 12 month low of $6.17 and a 12 month high of $10.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.22 and a quick ratio of 3.99.

In related news, VP Emily Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $8.00, for a total transaction of $80,000.00. Following the sale, the vice president now directly owns 66,776 shares in the company, valued at $534,208. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of Energy Recovery by 12.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 185,181 shares of the industrial products company’s stock valued at $1,497,000 after acquiring an additional 19,772 shares during the period. BlackRock Inc. boosted its holdings in shares of Energy Recovery by 11.9% during the second quarter. BlackRock Inc. now owns 2,458,180 shares of the industrial products company’s stock worth $19,861,000 after acquiring an additional 261,516 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Energy Recovery during the second quarter worth approximately $250,000. Millennium Management LLC bought a new stake in shares of Energy Recovery during the second quarter worth approximately $1,041,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Energy Recovery during the third quarter worth approximately $167,000. Hedge funds and other institutional investors own 37.25% of the company’s stock.

About Energy Recovery

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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