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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Energy Recovery, Inc.    ERII

ENERGY RECOVERY, INC.

(ERII)
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Energy Recovery : Shares Down 15% as It Exits License Agreement With Schlumberger

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06/29/2020 | 05:44pm EDT

By Josh Beckerman

 

Energy Recovery Inc. shares fell 15% to $7.59 after hours as the company said it is exiting a licensing agreement with Schlumberger Ltd.

Schlumberger will no longer have an exclusive licensing deal for Energy Recovery's VorTeq hydraulic pumping system, and Energy Recovery will now be fully responsible for commercialization.

"At this time, the two parties have different strategic perspectives as to the path to VorTeq commercialization," Energy Recovery said. "We believe this to be a positive outcome for all parties and are grateful to Schlumberger for their partnership through the years," the company said.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ENERGY RECOVERY, INC. 3.38% 7.65 Delayed Quote.-24.41%
SCHLUMBERGER LIMITED 2.77% 18.9 Delayed Quote.-54.25%
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Financials (USD)
Sales 2020 106 M - -
Net income 2020 14,9 M - -
Net cash 2020 53,1 M - -
P/E ratio 2020 27,5x
Yield 2020 -
Capitalization 426 M 426 M -
EV / Sales 2019
EV / Sales 2020 3,51x
Nbr of Employees 188
Free-Float 77,5%
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Technical analysis trends ENERGY RECOVERY, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 10,90 $
Last Close Price 7,65 $
Spread / Highest target 56,9%
Spread / Average Target 42,5%
Spread / Lowest Target 24,2%
EPS Revisions
Managers
NameTitle
Yu Lang Mao Chairman, President & Chief Executive Officer
Emily C. Smith Senior Vice President-Development & Operations
Joshua Ballard Chief Financial Officer
Farshad Ghasripoor Chief Technology Officer
Arve Hanstveit Independent Director
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