Energy Recovery (ERII) Receives a Buy from JMP Securities

By Carrie Williams

In a report issued on March 8, Joseph Osha from JMP Securities reiterated a Buy rating on Energy Recovery (ERIIResearch Report), with a price target of $13. The company’s shares closed on Friday at $8.88.

According to TipRanks.com, Osha is a 3-star analyst with an average return of 4.4% and a 50.0% success rate. Osha covers the Industrial Goods sector, focusing on stocks such as TPI Composites Inc, Acuity Brands, and Vivint Solar.

Currently, the analyst consensus on Energy Recovery is a Moderate Buy with an average price target of $13.

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Based on Energy Recovery’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $2.4 million. In comparison, last year the company had a net profit of $11.63 million.

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Energy Recovery, Inc. engineers, designs, manufactures and supplies solutions for industrial fluid flow processes. It operates through Water; and Oil & Gas segments. The Water segment represents the solutions sold for use in reverse osmosis desalination.