Amundi Increases Holdings in Energy Recovery, Inc. $ERII

Key Points

• Amundi increased its Energy Recovery stake by 7% in the second quarter, bringing its holdings to 4.0 million shares, or approximately 7.77% of the company. Institutional investors and hedge funds collectively own 83.58% of ERII.
• Analyst sentiment is cautious: Energy Recovery has a consensus “Hold” rating and an average price target of $13.50, while B. Riley lowered its target to $8.00 and maintained a neutral rating.
• ERII shares opened at $7.27, near their 52-week low of $7.25, after the company reported quarterly revenue of $12.0 million and an adjusted loss of $0.03 per share, missing analysts’ estimates on both measures.

Amundi boosted its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,003,535 shares of the industrial products company's stock after purchasing an additional 263,226 shares during the period. Amundi owned about 7.77% of Energy Recovery worth $36,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in Energy Recovery by 1,237.2% during the second quarter. California State Teachers Retirement System now owns 650,189 shares of the industrial products company's stock worth $5,865,000 after purchasing an additional 601,565 shares in the last quarter. Raiffeisen Bank International AG raised its stake in shares of Energy Recovery by 31.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 460,000 shares of the industrial products company's stock worth $4,053,000 after buying an additional 110,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Energy Recovery by 2.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 169,005 shares of the industrial products company's stock worth $1,524,000 after buying an additional 3,297 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Energy Recovery in the 2nd quarter worth about $300,000. Finally, Bank of America Corp DE acquired a new stake in Energy Recovery in the 2nd quarter valued at about $1,049,000. 83.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ERII. B. Riley Financial cut their target price on shares of Energy Recovery from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Energy Recovery from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 2nd. Finally, Wall Street Zen cut shares of Energy Recovery from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.50.

Energy Recovery Stock Down 1.5%

Shares of ERII stock opened at $7.27 on Friday. The stock has a market cap of $374.70 million, a price-to-earnings ratio of 25.96 and a beta of 0.90. The firm's 50 day moving average price is $8.24 and its two-hundred day moving average price is $9.29. Energy Recovery, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $18.32.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.72% and a return on equity of 8.25%. The firm had revenue of $12.00 million for the quarter, compared to analysts' expectations of $18.36 million. On average, equities analysts forecast that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at Energy Recovery

In other news, SVP Rodney Clemente sold 5,387 shares of the firm's 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 approximately $927,056.56. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Colin R. Sabol purchased 11,180 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average price of $8.88 per share, with a total value of $99,278.40. Following the purchase, the director owned 55,671 shares of the company's stock, valued at approximately $494,358.48. The trade was a 25.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.50% of the stock is owned by insiders.

Energy Recovery Company Profile

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.

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