Energy Recovery, Inc. $ERII Stock Holdings Boosted by Kopion Asset Management LLC

Key Points

• Kopion Asset Management increased its Energy Recovery stake by 59.2% in the third quarter to 1.02 million shares, worth about $6.8 million. Institutional investors and hedge funds collectively own 83.58% of ERII.
• Energy Recovery’s latest quarterly results fell short of expectations, with a $0.03 per-share loss and $12.0 million in revenue versus the $18.36 million estimate. Analysts expect a full-year loss of $0.17 per share.
• ERII traded near its 52-week low at $6.85, while analyst sentiment remained cautious: the consensus rating is “Reduce” with an $11.67 target price, and several firms recently downgraded the stock to neutral or sell.

Kopion Asset Management LLC raised its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 59.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,018,133 shares of the industrial products company's stock after purchasing an additional 378,588 shares during the quarter. Energy Recovery comprises approximately 4.5% of Kopion Asset Management LLC's holdings, making the stock its 11th biggest holding. Kopion Asset Management LLC owned approximately 1.98% of Energy Recovery worth $6,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc increased its holdings in shares of 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 worth $35,000 after buying an additional 4,625 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Energy Recovery during the second quarter valued at about $190,000. NewEdge Advisors LLC acquired a new stake in Energy Recovery during the second quarter worth about $518,000. Squarepoint Ops LLC raised its holdings in shares of Energy Recovery by 198.8% in the 2nd quarter. Squarepoint Ops LLC now owns 125,140 shares of the industrial products company's stock worth $1,129,000 after purchasing an additional 83,262 shares during the period. Finally, Corient Private Wealth LP purchased a new position in shares of Energy Recovery in the 2nd quarter worth about $302,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Price Performance

NASDAQ ERII traded up $0.01 on Friday, reaching $6.85. The company had a trading volume of 143,243 shares, compared to its average volume of 892,967. Energy Recovery, Inc. has a 1 year low of $6.60 and a 1 year high of $18.32. The firm has a 50-day moving average of $7.57 and a 200-day moving average of $8.69. The firm has a market capitalization of $352.84 million, a PE ratio of 24.46 and a beta of 0.91.

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). The firm had revenue of $12.00 million for the quarter, compared to analysts' expectations of $18.36 million. Energy Recovery had a net margin of 12.72% and a return on equity of 8.25%. As a group, sell-side analysts expect that Energy Recovery, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

Energy Recovery Company Profile

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.

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