498,508 Shares in ERock, Inc. $EROC Bought by Wellington Management Group LLP

Key Points

• Wellington Management acquired 498,508 shares of ERock, valued at approximately $7.23 million, while Kayne Anderson Capital Advisors also initiated a $710,000 position during the second quarter.
• ERock shares were trading at $13.84 after rising 12.2%; the stock has ranged from $8.88 to $20.70 over the past year.
• ERock beat quarterly expectations, reporting a loss of $0.06 per share versus consensus of $0.31 and revenue of $39.88 million versus estimates of $26.45 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $22.50.

Wellington Management Group LLP purchased a new stake in shares of ERock, Inc. (NYSE:EROC - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 498,508 shares of the company's stock, valued at approximately $7,228,000.

Separately, Kayne Anderson Capital Advisors LP purchased a new stake in ERock in the second quarter worth $710,000.

ERock Trading Up 12.2%

Shares of ERock stock opened at $13.84 on Wednesday. The stock has a 50 day moving average price of $12.54. ERock, Inc. has a 52-week low of $8.88 and a 52-week high of $20.70.

ERock (NYSE:EROC - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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. On average, equities research analysts expect that ERock, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

EROC has been the topic of several research reports. Barclays started coverage on ERock in a report on Monday, July 6th. They set an "overweight" rating and a $23.00 price objective on the stock. Wolfe Research assumed coverage on shares of ERock in a research note on Monday, July 6th. They set an "outperform" rating and a $24.00 price objective on the stock. Evercore initiated coverage on shares of ERock in a research note on Monday, July 6th. They issued an "outperform" rating and a $28.00 price objective for the company. Zacks Research upgraded ERock to a "hold" rating in a report on Tuesday, July 7th. Finally, Guggenheim dropped their target price on ERock from $23.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ERock has an average rating of "Moderate Buy" and an average price target of $22.50.

ERock Company Profile

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

Want to see what other hedge funds are holding EROC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ERock, Inc. (NYSE:EROC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.