Kopion Asset Management LLC Purchases 132,580 Shares of Energy Recovery, Inc. $ERII

Kopion Asset Management LLC increased its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 26.2% in the second quarter, Holdings Channel reports. The fund owned 639,545 shares of the industrial products company’s stock after purchasing an additional 132,580 shares during the quarter. Energy Recovery accounts for approximately 3.6% of Kopion Asset Management LLC’s portfolio, making the stock its 13th largest position. Kopion Asset Management LLC’s holdings in Energy Recovery were worth $5,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ERII. S&CO Inc. increased its position in Energy Recovery by 8.3% during the 1st quarter. S&CO Inc. now owns 13,000 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 1,000 shares during the period. Aviva PLC raised its holdings in shares of Energy Recovery by 4.9% in the 4th quarter. Aviva PLC now owns 33,974 shares of the industrial products company’s stock valued at $458,000 after purchasing an additional 1,599 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of Energy Recovery in the 3rd quarter worth approximately $27,000. Cary Street Partners Financial LLC lifted its position in shares of Energy Recovery by 3.7% in the 4th quarter. Cary Street Partners Financial LLC now owns 54,749 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 1,977 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Energy Recovery by 6.0% during the fourth quarter. Russell Investments Group Ltd. now owns 36,225 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 2,051 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total transaction of $46,112.72. Following the completion of the sale, the senior vice president owned 108,301 shares of the company’s stock, valued at $927,056.56. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pamela L. Tondreau bought 20,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $8.34 per share, with a total value of $166,800.00. Following the completion of the purchase, the director owned 37,362 shares of the company’s stock, valued at $311,599.08. This represents a 115.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.50% of the stock is currently owned by corporate insiders.

Energy Recovery Stock Performance

ERII stock opened at $9.12 on Wednesday. The firm has a market cap of $470.04 million, a price-to-earnings ratio of 24.00 and a beta of 0.91. The firm has a 50-day simple moving average of $8.60 and a two-hundred day simple moving average of $10.65. Energy Recovery, Inc. has a one year low of $7.83 and a one year high of $18.32.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. The firm had revenue of $9.71 million during the quarter, compared to the consensus estimate of $8.37 million. As a group, equities analysts predict that Energy Recovery, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ERII. Seaport Research Partners reissued a “buy” rating and set a $12.00 price objective on shares of Energy Recovery in a report on Wednesday, May 13th. Weiss Ratings lowered Energy Recovery from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. Wall Street Zen cut Energy Recovery from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Freedom Capital downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

About Energy Recovery

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.