Conestoga Capital Advisors released its second-quarter 2025 investor letter, reporting a 15.65% net-of-fees appreciation for the Conestoga Micro Cap Composite, underperforming the Russell Microcap Growth Index’s 20.92% return. The firm does not expect the fund to align with index performance in a highly volatile market led by high-beta and lower-quality stocks. Energy Recovery, Inc. (NASDAQ:ERII) was highlighted in the letter for its 8.61% one-month return and $13.88 per share closing price on July 25, 2025. The company’s largest segment, desalination, continues to see robust demand despite challenges. Energy Recovery, Inc. (NASDAQ:ERII) is not among the 30 Most Popular Stocks Among Hedge Funds, but 19 hedge fund portfolios held the stock at the end of the first quarter.

Read more at Yahoo Finance: Here’s Why Energy Recovery (ERII) Fell in Q2