Energy Recovery, Inc. $ERII Stock Position Raised by Kopion Asset Management LLC

Kopion Asset Management LLC raised its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 59.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,018,133 shares of the industrial products company’s stock after purchasing an additional 378,588 shares during the period. Energy Recovery comprises approximately 4.5% of Kopion Asset Management LLC’s holdings, making the stock its 11th largest holding. Kopion Asset Management LLC’s holdings in Energy Recovery were worth $6,791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ERII. Quantbot Technologies LP bought a new stake in shares of Energy Recovery in the second quarter worth $33,000. Versant Capital Management Inc boosted its stake in Energy Recovery by 737.6% during the 3rd quarter. Versant Capital Management Inc now owns 5,252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 4,625 shares during the last quarter. Group One Trading LLC acquired a new position in Energy Recovery during the 1st quarter worth $41,000. S&CO Inc. acquired a new position in Energy Recovery during the 2nd quarter worth $117,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Energy Recovery in the 2nd quarter worth about $132,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ERII has been the topic of a number of recent analyst reports. B. Riley Financial cut their target price on shares of Energy Recovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Seaport Research Partners lowered Energy Recovery from a “buy” rating to a “neutral” rating in a report on Monday, September 14th. Finally, Weiss Ratings cut Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, September 16th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $11.67.

Energy Recovery Stock Up 0.1%

ERII stock traded up $0.01 during trading on Friday, hitting $6.85. 143,243 shares of the company’s stock traded hands, compared to its average volume of 892,967. Energy Recovery, Inc. has a 52 week low of $6.60 and a 52 week high of $18.32. The stock has a fifty day moving average price of $7.57 and a two-hundred day moving average price of $8.69. The stock has a market capitalization of $352.84 million, a price-to-earnings ratio of 24.46 and a beta of 0.91.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Energy Recovery had a return on equity of 8.25% and a net margin of 12.72%.The business had revenue of $12.00 million during the quarter, compared to the consensus estimate of $18.36 million. As a group, equities research analysts expect that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $8.56, for a total value of $46,112.72. Following the completion of the transaction, the senior vice president directly owned 108,301 shares in the company, valued at $927,056.56. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is owned by corporate insiders.

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) develops and manufactures energy recovery and fluid-flow solutions for industrial applications. Its technologies are designed to capture and reuse hydraulic energy, helping customers reduce power consumption, operating costs, and environmental impact.

The company is best known for its PX Pressure Exchanger technology, which transfers pressure energy between fluid streams with high efficiency. The products are used primarily in seawater and industrial wastewater desalination, where they help reduce the energy required for reverse-osmosis systems.