ERock, Inc. (NYSE:EROC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts rate ERock a consensus “Moderate Buy,” with seven buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $22.50, well above the recent $13.06 share price.
• ERock reported quarterly EPS of -$0.06, beating the consensus estimate of -$0.31, while revenue of $39.88 million exceeded expectations of $26.45 million.
• Several institutional investors recently initiated positions in ERock, including Value Aligned Research Advisors with an investment of approximately $19.5 million and Wellington Management with about $7.2 million.

Shares of ERock, Inc. (NYSE:EROC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.50.

EROC has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on ERock from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Wolfe Research initiated coverage on shares of ERock in a research note on Monday, July 6th. They set an "outperform" rating and a $24.00 price target on the stock. Evercore initiated coverage on shares of ERock in a research report on Monday, July 6th. They set an "outperform" rating and a $28.00 price target on the stock. Wall Street Zen raised shares of ERock to a "hold" rating in a research note on Saturday, June 20th. Finally, Bank of America raised shares of ERock from a "neutral" rating to a "buy" rating and set a $16.00 price objective for the company in a research note on Friday, July 17th.

ERock Stock Performance

Shares of NYSE EROC opened at $13.06 on Friday. The firm has a 50 day moving average price of $12.19. ERock has a 52-week low of $8.88 and a 52-week high of $20.70.

ERock (NYSE:EROC - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $39.88 million for the quarter, compared to analysts' expectations of $26.45 million. Analysts predict that ERock will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ERock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd acquired a new stake in shares of ERock in the second quarter valued at $2,900,000. Engineers Gate Manager LP acquired a new position in ERock during the 2nd quarter worth $515,000. Readystate Asset Management LP purchased a new stake in ERock during the 2nd quarter worth about $725,000. Value Aligned Research Advisors LLC purchased a new stake in ERock during the 2nd quarter worth about $19,516,000. Finally, Wellington Management Group LLP acquired a new stake in ERock in the 2nd quarter valued at about $7,228,000.

About ERock

ERock Inc provide onsite power solutions. ERock Inc is based in HOUSTON.

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