NEW YORK (TheStreet) -- Energy Recovery
(ERII - Get Report) stock is tumbling in post-market trading after missing first-quarter earnings and revenue expectations.
After the bell, shares had plummeted 11.9% to $4.45.
The industrial machinery manufacturer recorded a net loss of 7 cents a share over the three months to March, 4 cents wider than analysts surveyed by Thomson Reuters anticipated. Revenue of $3.9 million sank 39% year over year, missing estimates of $8.77 million.
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TheStreet Ratings team rates ENERGY RECOVERY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENERGY RECOVERY INC (ERII) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."
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