ERock (NYSE:EROC) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

ERock (NYSE:EROC) had its price objective cut by JPMorgan Chase & Co. from $21.00 to $18.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on EROC. Zacks Research raised shares of ERock to a “hold” rating in a research report on Tuesday, July 7th. Bank of America upgraded shares of ERock from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Friday, July 17th. Weiss Ratings started coverage on shares of ERock in a report on Friday, September 4th. They issued a “sell (e-)” rating on the stock. Morgan Stanley upped their price objective on ERock from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Finally, Barclays assumed coverage on ERock in a research note on Monday, July 6th. They issued an “overweight” rating and a $23.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ERock has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

ERock Trading Up 8.7%

NYSE EROC opened at $9.40 on Monday. ERock has a one year low of $8.30 and a one year high of $20.70. The business’s fifty day simple moving average is $12.40.

ERock (NYSE:EROC) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.06) earnings per share 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, sell-side analysts forecast that ERock will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On ERock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in ERock during the second quarter worth about $7,228,000. BlueCrest Capital Management Ltd purchased a new position in shares of ERock in the second quarter worth about $2,900,000. Value Aligned Research Advisors LLC purchased a new position in shares of ERock in the second quarter worth about $19,516,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of ERock in the second quarter worth about $710,000. Finally, Readystate Asset Management LP purchased a new position in shares of ERock in the second quarter worth about $725,000.

About ERock

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