By market open, shares had added 22.7% to $5.83.
The company reported per-share earnings of 13 cents, 5 cents higher than Thomson Reuters consensus.
Revenue saw a 54.1% year-over-year increase to $23.24 million, beating consensus of $21.37 million.
TheStreet Ratings team rates ENERGY RECOVERY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENERGY RECOVERY INC (ERII) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been unimpressive growth in net income over time."
- You can view the full analysis from the report here: ERII Ratings Report