Value Aligned Research Advisors LLC Buys Shares of 1,345,920 ERock, Inc. $EROC

Key Points

• Value Aligned Research Advisors LLC acquired 1,345,920 ERock shares worth approximately $19.5 million, representing about 2.79% of the company. Wellington Management also initiated a roughly $7.2 million position.
• Analysts remain broadly positive, with an average rating of “Buy” and a consensus price target of $22.88; ratings include one Strong Buy, seven Buys, and one Hold.
• ERock reported a quarterly loss of $0.06 per share, beating estimates of a $0.31 loss, while revenue of $39.88 million exceeded the $26.45 million consensus forecast. The stock opened at $13.24, versus a 52-week range of $8.88 to $20.70.

Value Aligned Research Advisors LLC bought a new position in ERock, Inc. (NYSE:EROC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,345,920 shares of the company's stock, valued at approximately $19,516,000. Value Aligned Research Advisors LLC owned about 2.79% of ERock as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Wellington Management Group LLP bought a new position in shares of ERock in the 2nd quarter worth approximately $7,228,000.

Wall Street Analyst Weigh In

EROC has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of ERock from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Barclays started coverage on shares of ERock in a report on Monday, July 6th. They set an "overweight" rating and a $23.00 target price for the company. Bank of America upgraded shares of ERock from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a research report on Friday, July 17th. Guggenheim began coverage on shares of ERock in a research note on Monday, July 6th. They set a "buy" rating and a $23.00 price target on the stock. Finally, Zacks Research raised shares of ERock to a "hold" rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $22.88.

ERock Stock Performance

NYSE EROC opened at $13.24 on Friday. The stock has a 50-day moving average of $13.06. 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 announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The company had revenue of $39.88 million for the quarter, compared to the consensus estimate of $26.45 million. On average, equities analysts predict that ERock, Inc. will post -0.3 EPS for the current fiscal year.

About ERock

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

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