Amundi Increases Stock Position in Energy Recovery, Inc. $ERII

Key Points

• Amundi increased its Energy Recovery stake by 31.2% in the first quarter, adding 888,618 shares to own 3.74 million shares, or about 7.26% of ERII. Institutional investors collectively own 83.58% of the company.
• Analyst sentiment is mixed but leans neutral: ERII has a consensus rating of “Hold” and a $15.00 price target, with ratings ranging from Buy to Sell.
• Energy Recovery’s latest quarterly results missed on earnings, reporting a loss of $0.23 per share versus the expected $0.10 loss, although revenue of $9.71 million exceeded estimates. The stock recently opened at $8.91, near the lower end of its 52-week range.

Amundi boosted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 31.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,740,309 shares of the industrial products company's stock after purchasing an additional 888,618 shares during the period. Amundi owned approximately 7.26% of Energy Recovery worth $37,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new position in shares of Energy Recovery during the 3rd quarter valued at approximately $27,000. Parallel Advisors LLC bought a new stake in shares of Energy Recovery in the fourth quarter worth $38,000. Group One Trading LLC bought a new stake in shares of Energy Recovery in the first quarter worth $41,000. Comerica Bank raised its holdings in Energy Recovery by 150.5% in the fourth quarter. Comerica Bank now owns 3,868 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Energy Recovery by 172.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,011 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 3,803 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

Analyst Upgrades and Downgrades

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

Energy Recovery Stock Up 3.0%

ERII opened at $8.91 on Tuesday. The company's 50-day moving average price is $8.60 and its 200 day moving average price is $10.69. Energy Recovery, Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $18.32. The firm has a market cap of $459.22 million, a price-to-earnings ratio of 23.45 and a beta of 0.91.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its earnings results on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The company had revenue of $9.71 million for the quarter, compared to the consensus estimate of $8.37 million. Energy Recovery had a net margin of 15.07% and a return on equity of 10.89%. Research analysts anticipate that Energy Recovery, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In related news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $8.56, for a total value of $46,112.72. Following the sale, the senior vice president directly owned 108,301 shares in the company, valued at $927,056.56. This trade represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Colin R. Sabol bought 11,180 shares of Energy Recovery stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $8.88 per share, with a total value of $99,278.40. Following the completion of the purchase, the director directly owned 55,671 shares in the company, valued at $494,358.48. This trade represents a 25.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.50% of the stock is currently owned by company 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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