ERock, Inc. (NYSE:EROC) Stock Has Consensus Price Target of $22.50 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on ERock, with seven buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $22.50, with individual targets ranging from $22 to $24.
• Institutional investors recently established new positions in ERock, led by Value Aligned Research Advisors with a stake worth approximately $19.5 million, followed by Wellington Management with about $7.2 million.
• ERock reported a quarterly loss of $0.06 per share, beating the consensus estimate of a $0.31 loss, while revenue of $39.88 million exceeded expectations of $26.45 million. Shares recently opened at $11.59, well below the analyst consensus target.

ERock, Inc. (NYSE:EROC - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.50.

Several equities analysts have recently commented on the stock. Wolfe Research initiated coverage on shares of ERock in a report on Monday, July 6th. They set an "outperform" rating and a $24.00 price target on the stock. Barclays began coverage on shares of ERock in a research note on Monday, July 6th. They issued an "overweight" rating and a $23.00 price target on the stock. Morgan Stanley increased their price objective on ERock from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. JPMorgan Chase & Co. assumed coverage on ERock in a research report on Monday, July 6th. They set an "overweight" rating and a $24.00 price objective for the company. Finally, BNP Paribas Exane set a $22.00 price objective on ERock and gave the company an "outperform" rating in a research report on Monday, July 6th.

Institutional Investors Weigh In On ERock

A number of large investors have recently bought and sold shares of EROC. Value Aligned Research Advisors LLC bought a new stake in shares of ERock during the 2nd quarter worth about $19,516,000. Wellington Management Group LLP bought a new position in ERock in the 2nd quarter worth $7,228,000. BlueCrest Capital Management Ltd bought a new position in ERock in the 2nd quarter worth $2,900,000. Readystate Asset Management LP bought a new position in ERock in the 2nd quarter worth $725,000. Finally, Kayne Anderson Capital Advisors LP acquired a new position in ERock during the 2nd quarter worth $710,000.

ERock Price Performance

Shares of EROC opened at $11.59 on Wednesday. The stock has a market capitalization of $558.29 million and a P/E ratio of -193.17. The company's 50 day moving average is $12.62. 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 earnings results on Tuesday, August 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.25. The company had revenue of $39.88 million during the quarter, compared to analysts' expectations of $26.45 million. As a group, equities analysts predict that ERock will post -0.32 earnings per share for the current year.

About ERock

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

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