Kopion Asset Management LLC Invests $3.87 Million 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 acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 302,837 shares of the industrial products company's stock, valued at approximately $3,870,000. Energy Recovery makes up about 2.6% of Kopion Asset Management LLC's portfolio, making the stock its 16th biggest holding. Kopion Asset Management LLC owned approximately 0.56% of Energy Recovery as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Energy Recovery by 5,662.3% during the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company's stock worth $138,000 after acquiring an additional 8,550 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Energy Recovery during the 1st quarter worth about $162,000. Juncture Wealth Strategies LLC acquired a new position in shares of Energy Recovery during the 1st quarter worth about $178,000. Magnetar Financial LLC acquired a new position in shares of Energy Recovery during the 1st quarter worth about $223,000. Finally, Clear Creek Financial Management LLC boosted its position in shares of Energy Recovery by 5.9% during the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company's stock worth $242,000 after acquiring an additional 850 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was 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 trade represents a 5.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company's stock.

Energy Recovery Stock Down 1.2%

Shares of NASDAQ ERII opened at $14.36 on Monday. The stock has a market cap of $763.95 million, a PE ratio of 34.19 and a beta of 1.01. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The business has a 50-day moving average price of $13.95 and a 200 day moving average price of $14.07.

Analysts Set New Price Targets

Several research firms have recently issued reports on ERII. Fearnley Fonds raised Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. B. Riley upped their target price on Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $18.67.

Energy Recovery Profile

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.

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