186,315 Shares in Energy Recovery, Inc. $ERII Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 186,315 shares of the industrial products company’s stock, valued at approximately $2,381,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ERII. Ameriprise Financial Inc. grew its position in shares of Energy Recovery by 3.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company’s stock valued at $81,657,000 after acquiring an additional 184,942 shares during the period. Vanguard Group Inc. raised its position in shares of Energy Recovery by 7.5% in the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock valued at $55,534,000 after buying an additional 242,494 shares during the last quarter. Select Equity Group L.P. grew its position in shares of Energy Recovery by 403.5% in the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company’s stock valued at $10,601,000 after purchasing an additional 534,662 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Energy Recovery by 33.0% in the second quarter. KLP Kapitalforvaltning AS now owns 411,911 shares of the industrial products company’s stock valued at $5,264,000 after purchasing an additional 102,311 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Energy Recovery by 42.7% during the second quarter. Pinnacle Associates Ltd. now owns 399,171 shares of the industrial products company’s stock worth $5,101,000 after buying an additional 119,445 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Insider Activity at Energy Recovery

In other news, insider William Yeung sold 33,554 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $14.51, for a total value of $486,868.54. Following the completion of the transaction, the insider owned 97,369 shares of the company’s stock, valued at approximately $1,412,824.19. This trade represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 72,333 shares of company stock valued at $1,122,195 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Energy Recovery Stock Performance

Energy Recovery stock opened at $14.53 on Friday. The company’s 50 day simple moving average is $15.66 and its 200-day simple moving average is $14.18. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $19.32. The company has a market capitalization of $769.68 million, a price-to-earnings ratio of 34.60 and a beta of 1.10.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $32.00 million during the quarter, compared to analysts’ expectations of $29.94 million. Energy Recovery had a net margin of 17.02% and a return on equity of 11.67%. Energy Recovery has set its FY 2025 guidance at EPS. Equities analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Energy Recovery in a report on Tuesday, October 14th. B. Riley reissued a “neutral” rating on shares of Energy Recovery in a research report on Thursday, November 6th. CJS Securities assumed coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price objective for the company. Finally, Loop Capital set a $18.20 target price on shares of Energy Recovery in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Recovery presently has an average rating of “Buy” and an average price target of $18.64.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.