Kopion Asset Management LLC Takes $3.87 Million Position in Energy Recovery, Inc. $ERII

Key Points

• Kopion Asset Management LLC invested $3.87 million in Energy Recovery, acquiring 302,837 shares, making it 2.6% of their portfolio and the 16th largest holding.
• Insider Rodney Clemente sold 5,387 shares at an average price of $13.97, reducing his position by 5.07%, while insiders collectively own 3.20% of the company.
• Energy Recovery's stock has a consensus rating of "Buy" with an average target price of $18.67, after recent upgrades from analysts including a change from "hold" to "strong-buy".

Kopion Asset Management LLC bought a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 302,837 shares of the industrial products company's stock, valued at approximately $3,870,000. Energy Recovery accounts for about 2.6% of Kopion Asset Management LLC's portfolio, making the stock its 16th biggest holding. Kopion Asset Management LLC owned 0.56% of Energy Recovery at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Energy Recovery by 5,662.3% in the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock valued at $138,000 after acquiring an additional 8,550 shares during the period. American Century Companies Inc. acquired a new stake in Energy Recovery in the 1st quarter valued at approximately $162,000. Juncture Wealth Strategies LLC acquired a new stake in Energy Recovery in the first quarter worth approximately $178,000. Magnetar Financial LLC acquired a new stake in Energy Recovery in the first quarter worth approximately $223,000. Finally, Two Sigma Investments LP acquired a new stake in Energy Recovery in the fourth quarter worth approximately $229,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ERII has been the subject of a number of research analyst reports. CJS Securities initiated coverage on Energy Recovery in a research report on Tuesday. They issued a "market outperform" rating and a $19.00 target price for the company. B. Riley upped their target price on Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $18.75.

Energy Recovery Price Performance

NASDAQ:ERII traded down $0.37 during trading hours on Friday, reaching $14.77. The company's stock had a trading volume of 226,891 shares, compared to its average volume of 421,108. The company has a market cap of $785.66 million, a price-to-earnings ratio of 35.21 and a beta of 1.01. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The business's 50-day moving average is $14.08 and its 200-day moving average is $14.07.

Insiders Place Their Bets

In related news, SVP Rodney Clemente sold 5,387 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the completion of the sale, the senior vice president directly owned 100,765 shares of the company's stock, valued at approximately $1,407,687.05. This represents a 5.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Yeung sold 33,554 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the transaction, the insider directly owned 97,369 shares in the company, valued at $1,412,824.19. This trade represents a 25.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company's stock.

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.