UPDATE: Energy Recovery Shares Sink On Downgrade Following Volatile Trading on Q2 Results

By MidnightTrader.com Staff,

Shutterstock photo

Energy Recovery Inc ( ERII ) shares are down 9.1%, adding to earlier 6% losses. The company's shares were downgraded today to Hold from Accumulate at Ardour Capital.

ERII trading was volatile yesterday as the company reported Q2 net revenue of $12.3 million, an increase of 85% compared to the same period of 2011.

The company announced EPS of $0.01, compared to a loss of $0.06 for the comparable period. The company reiterated previous guidance of 40% revenue growth in FY 2012.

Shares are trading in a 52-week range of $1.95 - $5.13.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ERII

More from MT Newswires


MT Newswires

MT Newswires

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com